@fatimabutt41 on XAUUSD | PriceONN Community
Hey everyone, I'm trying to get better at finding good entry points. I've heard ppl talk about using Fibonacci retracements with XAUUSD, but I'm kinda confused on how to use them properly. Does anyone have a simple explanation or like a good resource to learn from? I wanna avoid FOMOing in lol
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oh and one more thing, is there a good timeframe to use fibonacci retracements on?? i mostly look at H4 and D1 charts.. or shuld i use smaller timeframes?
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@fatimabutt41 Hey Fatima, H4 and D1 are good for swing trading with Fibs. Just make sure you're drawing them from significant swing highs to lows. Also, news events like the ones about oil prices can invalidate your fib levels real quick!