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Which tool or indicator should I use on TradingView to draw Fibonacci retracement for cryptocurrency trading?

avatarHaroon AsifNov 24, 2021 · 3 years ago1 answers

I'm new to cryptocurrency trading and I've heard about using Fibonacci retracement as a tool for technical analysis. Can someone guide me on which tool or indicator I should use on TradingView to draw Fibonacci retracement lines for cryptocurrency trading? I want to understand how to use this tool effectively to identify potential support and resistance levels in the price movement of cryptocurrencies.

Which tool or indicator should I use on TradingView to draw Fibonacci retracement for cryptocurrency trading?
Cryptocurrency Trading
TradingView
Fibonacci Retracement

1 answers

  • avatarNov 24, 2021 · 3 years ago
    If you're looking to draw Fibonacci retracement lines on TradingView for cryptocurrency trading, the Fibonacci retracement tool is what you need. It's a popular tool among traders and can be found in the drawing tools section on TradingView. Simply select the tool, click on the starting point of the price movement you want to analyze, and drag it to the ending point. The tool will automatically draw the retracement levels on the chart. Keep in mind that TradingView offers a wide range of tools and indicators, so it's always a good idea to experiment with different ones and find the combination that works best for you. Happy trading!

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