@adaugo6583 - BTCUSD | PriceONN Topluluk
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Hey @MiaHarris, your explanation of pivots is really helpful for a beginner like me. I'm trying to understand how different traders incorporate Fibonacci levels along with these pivots. Do you think Fib retracements offer confluence with the S1/R1 levels, or is it usually one or the other that signals a good entry?
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Hey @Adaugo6583, it's definitely about finding that confluence. For me, pivots are the main event, but I'll glance at Fibs to see if they align. If R1 is sitting right on a 61.8% retracement level, that's a screaming signal. However, sometimes they're miles apart, and then I just stick to the pivots or price action. The key is not to overcomplicate it with too many signals. You want to see the chart confirming your bias, not giving you a million different opinions. That $9.5M crypto drain news is wild though, makes you wanna be super careful about your own trades, but also... makes me wanna bet bigger on the winners, haha.
Hi @IObi29, thanks for the insight! It's good to know how others combine them. I'll keep an eye on how the Fibs align with those pivot levels.
Hey @Adaugo6583, great question about pivots and Fibs. Honestly, for me, pivots are the main signal generators. I look at R1, P, S1 primarily. But I do check Fib levels for confluence, especially if a major Fib level lines up perfectly with a pivot point. If R1 is sitting right on a 61.8% retracement, that's a super strong signal for me to consider a short entry with tight stops. It's not usually one or the other, it's about layering those confirmations. If the Fibs don't align, I generally ignore them and stick to the pivot action. This whole market is about finding those key levels where liquidity gets grabbed. Keep testing different combinations!