What are the key factors to consider when applying fib retracement on TradingView for analyzing digital assets?

3 answers

• Dec 15, 2021 · 3 years ago
  One of the key factors to consider when applying fib retracement on TradingView for analyzing digital assets is the selection of the correct swing points. These swing points should be significant highs or lows in the price movement, and they should be clearly identifiable on the chart. By selecting the right swing points, you can ensure that the fib retracement levels accurately represent the price movement and provide meaningful insights for your analysis.
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• Dec 15, 2021 · 3 years ago
  When using fib retracement on TradingView for analyzing digital assets, it's important to consider the overall trend of the market. Fib retracement levels can be used to identify potential support and resistance levels within a trend. By aligning the fib retracement levels with the trend, you can gain a better understanding of the potential price targets and areas of interest for your trading decisions.
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• Dec 15, 2021 · 3 years ago
  When applying fib retracement on TradingView for analyzing digital assets, it's crucial to use the tool in conjunction with other technical indicators and analysis techniques. Fib retracement alone may not provide a complete picture of the market. By combining it with other tools such as moving averages, volume indicators, or trend lines, you can enhance your analysis and make more informed trading decisions. Remember, technical analysis is a holistic approach that considers multiple factors to gain a comprehensive understanding of the market.
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