Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

Why You Should measure Fibonacci on trending price action ONLY #trading #fibonacci

27 Jan 2025 · 1 min

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Vladimir Ribakov explains that Fibonacci retracements only work on established market waves with clear swing points, not random candles or single price moves. Most traders apply it wrong by measuring arbitrary price action instead of waiting for alternating higher highs and lows that define a real trend.

Chapters

you will want to plot Fibonacci, you need established waves, waves that create a sequence of low, high, low, high, low, high. And the sequence of high, low, low, high is created swing points, right? When you have sequence of candles that make higher highs, higher lows, then sequence of candles that make lower highs, lower lows, sequence of candles that make new high And so on. And what I see from traders, what they do is they measure Fibonacci on such waves. They say, oh, that's a Fibonacci on one candle, or here, oh, that's a big candle, let's plot Fibonacci here, or here, or, or here. And they do it absolutely wrong. One candle