RE: Steemit Crypto Academy Contest / S14W4 - Fibonacci Retracements
As usual boss @sahmie you always amaze me with your well detailed, navigated and quality post on this platform. Besides that, I appreciate your efforts for the way you gave a detailed, easy to understand explanation of the tool called Fibonacci retracements. Your introduction already made love your post already. It really captured my heart as well as other readers
The Fibonacci retracements are Great tools used by traders in the market space to determine and make entry and exit points in the market. It's just one of the instruments used by stock market participants to predict potential future stock price movements.... I also came to understand that this tool gives us more better analysis and accurate results when we use it with other indicators...
Giving a Step by Step process of how the FB retracements works using the STEEM/USDT chart was another thing that made your Post outstanding Sir..
Advantages comes with disadvantages. You did a good thing by mentioning the advantages and disadvantages with brief explanation.
Thanks for sharing and good luck with the challenge.....
Thanks for your awesome feedback, it brings joy to my heart. I'm glad you found my explanation of Fibonacci retracements helpful. It's a tool that traders use to predict stock price movements and determine entry and exit points. Combining it with other indicators can give you even better analysis.
I'm thrilled that you liked the step-by-step process using the STEEM/USDT chart. Practical examples always make things easier to understand. And it's important to mention the pros and cons of using Fibonacci retracements for a balanced view.
Thanks for your support and good luck.