Improve Fibonacci, fractal patterns, RSI indicator and the Commodity channel index (CCI) trading. Profit from financial markets.
My Two Favourite Fib Extensions
Most of my friends traders already know them. The are the 161.8 and 138.2% Fib extensions groups. Whether one is an ordinary technical trader (one eyed), advanced market player (eagle eyed) or sophisticated market player (eagle eyes all over the whole skin), one will find those two groups really helpful. Indeed, they help wave traders go into the minds of Fibonacci traders, and find the best divergences, oversold and overbought zones. Moreover, one can combine those two Fibonacci extensions groups with candlestick patterns and trading volume strategies. Watch out for the 161.8% and 138.2% Fibonacci extensions levels of the third Elliott wave when the fifth wave is underway. In fact, there are numerous ways one can use those Fibonacci extensions. Now, one begin to realise why they are my two favourite Fibonacci extensions. For those reasons, I will recommend to beginner technical traders to learn to master those two Fibonacci extensions at the very early stage. Whether one is investing or trading, one will not escape those two groups of Fibonacci extensions. If one looks on hundreds of stock charts, one will see how the advanced market players are constantly taking positions on or near those Fibonacci extensions levels.