In a previous post, I discussed using a Fibonacci Fan to predict some levels the S&P might seek if and when we do see a correction. To make it clear, I'm not bearish on stocks. Eventually, we'll see a correction, and it'll be 'YUGE', but I doubt it'll happen any time soon. The reason I've posted this is to show you new traders that if you're doing it properly, Fibonacci Levels should agree whether garnered from the fan, retracement levels, or extension levels. Hope this post helps anyone seeking to improve their Fibonacci skillz! Good luck and good trading!
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Join my discord at discord.io/quantguy
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.