๐ต **FIBONACCI
Retracement vs Extension**
One of the most important tools relied upon by analysts to accurately determine entry and profit-taking zones. Hereโs the idea in a concise and professional manner:
๐ฆ Fibonacci Retracement โ Entry Zones
โจ Used to identify the end of a correction and the beginning of an entry opportunity.
๐น It is relied upon when a corrective movement occurs within a clear trend.
๐น The tool is drawn from the peak to the trough (down) or vice versa (up).
๐น The most important strong entry levels:
38.2%
50%
61.8%
๐ A price rebound from these levels often means trend continuation and an ideal entry.
๐ฅ Fibonacci Extension โ Profit-Taking Zones
โจ Used to identify price targets after the correction has ended.
๐ธ It is drawn from the start of the movement to its end and then to the correction point.
๐ธ The most important target levels:
100%
127.2%
161.8%
๐ When the price reaches these levels, it is considered an excellent area for profit-taking.
โ๏ธ Brief difference
Retracement = Identifying entry area.
Extension = Identifying targets.
๐ฏ Summary
โ Retracement for entry.
โ Extension for targets.
โ Combining both provides an accurate reading and offers a more powerful and professional trade.$BTC
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