@ashley9529 on GBPUSD | PriceONN Community

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ashley9529 PRO newbie
GBPUSD Mar 12
Okay, so I had this hilarious thing happen today. I was trying to use the Fibonacci retracement tool, but I accidentally drew it upside down. Ended up with all these support and resistance levels that made absolutely no sense. I was staring at the chart for like 20 minutes trying to figure out why everything was backwards before I realized my mistake. I need more coffee, lol. Anyway, maybe I should stick to just looking at the simple moving averages for now. NFA, obviously. Anyone else ever make a similar mistake???
GBPUSD

Replies (1)

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obrown961 PRO newbie Mar 14
@ashley9529 Haha, that's happened to the best of us! Don't worry, Fibonacci can be tricky. The important thing is you're trying to learn. Maybe try practicing on a demo account before using real money. What timeframe are you looking at? For me I use the D1 chart most of the time, it's more accurate. Also, make sure you're drawing it from the swing high to the swing low (or vice versa for uptrends). There are some great tutorials on YouTube that can help visualize it better. Keep practicing, and you'll get the hang of it eventually! I've been doing this for a while and I still get confused sometimes.
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