Fibonacci retracement strategy plus using price action candle stick patterns together might just be the key to unlock profitability in your day trading career.
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Links to the indicators
TMA Overlay
TMA shop
https://shop.spreadshirt.com/themovingaverage/
What Are Fibonacci Retracement Levels?
Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. They stem from Fibonacci’s sequence, a mathematical formula that originated in the 13th century.
Each level is associated with a percentage. The percentage is how much of a prior move the price has retraced. The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and 78.6%. While not officially a Fibonacci ratio, 50% is also used.
The indicator is useful because it can be drawn between any two significant price points, such as a high and a low. The indicator will then create the levels between those two points.
Price action describes the characteristics of a security’s price movements. This movement is quite often analyzed with respect to price changes in the recent past. In simple terms, price action is a trading technique that allows a trader to read the market and make subjective trading decisions based on the recent and actual price movements, rather than relying solely on technical indicators.
Since it ignores the fundamental analysis factors and focuses more on recent and past price movement, the price action trading strategy is dependent on technical analysis tools.
The Popularity of Price Action Trading
Price action trading is better suited for short-to-medium term limited profit trades, instead of long term investments.
Most traders believe that the market follows a random pattern and there is no clear systematic way to define a strategy that will always work. By combining the technical analysis tools with the recent price history to identify trade opportunities based on the trader’s own interpretation, price action trading has a lot of support in the trading community.
The broker I use
https://portal.blueberrymarkets.com/sign-up?referralCode=jwzsc5w3vb
The prop firm I use (discount code TMA15)
https://funderpro.com/people/get-funded-with-the-moving-average/
learn to trade here
https://www.trdfloor.com/
find out what style trading is best for you here
https://tmafx.com/
For charts Use Trading View
https://www.tradingview.com/?aff_id=113274
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