@shweta5669 on ETHUSD | PriceONN Community

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shweta5669
I'm still trying to get a handle on using Fibonacci retracements effectively. Does anyone have a go-to strategy or a specific indicator they pair with Fibo levels to confirm entries on ETHUSD? I find myself drawing them but then not knowing how to interpret the signals precisely. Any guidance would be greatly appreciated.
ETHUSD

Replies (1)

M
matthew6562 PRO newbie Mar 21
Hi @shweta5669, Fibo retracements can be tricky for sure. I've been using them too and sometimes they line up perfectly, other times not so much. What I've found helps is not relying on them alone. I usually try to see if there's any significant support or resistance level near the Fibo levels. If those align, I feel a bit more confident. Also, looking at the volume around those levels can give a clue. If price is retracing to a Fibo level and volume spikes, it might be a stronger signal. Honestly though, I'm still learning how to use them perfectly myself, it's a process. Curious to see what others say too.
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