@thomas9665 on BTCUSD | PriceONN Community
I've been seeing a lot of talk about using Fibonacci retracements on BTC charts, especially around these current levels near 74k. Does anyone have a preferred way to set them up, or specific indicators they combine with Fibo levels for confirmation? I'm trying to improve my entry precision.
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Actually, thinking more about it, I'm particularly interested in how to apply it during high volatility sessions like this one. It seems like the levels can get invalidated quickly if there's a sudden breakout or fakeout.
@thomas9665 I'm pretty new to Fibo, but I usually just draw from the last major swing low to high. For confirmation, I look for price action like a strong displacement candle or an FVG around the Fib level before entering. It’s tricky with this volatility though.
S
@thomas9665 I hear you on the Fibo stuff, it sounds complicated! 😅 I tried drawing some lines yesterday but they didn't seem to do much for me. This volatility is wild though, my whole account feels like it's on a rollercoaster. Is there a simpler way to use Fibo for someone like me who doesn't get all the fancy indicators?