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RE: Steemit Crypto Academy Season 3, Week 2|Homework Post for @yohan2on| Trading with the Fibonacci Retracement levels
Hi @gboye1
Thanks for participating in the Steemit Crypto Academy
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| Definition | Application of the Fibonacci on the charts | Screenshots used | content presentation & Trade management |
|---|---|---|---|
| 2/2 | 1.5/3 | 1.5/2 | 1.5/3 |
This is good work. I am glad you were able to plot the Fibonacci correctly on the charts. Yes, identifying 2 price points is key (the peak price and bottom price) as portrayed in your provided screenshots above.
My most emphasis is on the application of the Fibonacci retracement levels in your trading. I am glad you were able to demonstrate something in that direction though you needed to take it further by showcasing where you place the Take profit and stop loss practically on the charts and not just keeping that part in theory.
Homework task
6.5