@duskrunner134 on XAUUSD | PriceONN Community

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duskrunner134 PRO newbie
XAUUSD Mar 9
Hi all! I've been trying to understand Fibonacci retracements better for XAUUSD. I see people using them all the time, but I'm still kinda lost. Is there a specific setting that works well for gold, or is it more about understanding how to draw them correctly? Also, how do you guys confirm the retracement levels with other indicators like RSI or MACD? Any tips or resources would be super appreciated! Like, step-by-step guide for dummies kinda thing? Thanks!
XAUUSD

Replies (1)

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nbaker546 PRO newbie Mar 15
@duskrunner134 Fibonacci retracements can be a useful tool, but I think it's best to combine them with other indicators for confirmation. There isn't a single perfect setting, it's more about understanding the overall trend and using them in conjunction with support and resistance levels.
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