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TagsWhich tool or indicator should I use on TradingView to draw Fibonacci retracement for cryptocurrency trading?
Graversen StampeMar 22, 2022 · 3 years ago1 answersI'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.
1 answers
- 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!Mar 22, 2022 · 3 years ago
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