๐น Thread 22 โ How to draw Fibonacci retracements on Binance step by step (Visual guide)
Did you see that many use Fibonacci but donโt know where to start?
Today I will explain how to correctly draw the retracements on Binance (web or app) to improve your entries.
๐งต๐
1. What do you need?
A price chart (spot or futures), preferably in 4H or 1H candles.
Identify a clear price movement: from a low to a high (or vice versa).
2. Fibonacci tool on Binance
๐ Go to tradingview.binance.com or enter a chart in the app.
In the sidebar, look for the tool icon: โFibonacci Retracementโ.
3. How to draw the retracement correctly
โ In an uptrend:
Draw from the recent low (swing low) to the high (swing high).
โ In a downtrend:
Draw from the recent high (swing high) to the low (swing low).
4. Key levels to observe
๐ฏ 0.382 โ usually the first relevant support/resistance
๐ฏ 0.5 โ widely used by traders
๐ฏ 0.618 โ the โgolden levelโ, ideal for seeking entries
5. What to do with these levels?
๐ธ Wait for confirmation of support/resistance at one of those levels
๐ธ Use other indicators like RSI or volume
๐ธ Never enter just because it reaches 0.618
6. Practical example (BTC)
Imagine a movement from 24,000 to 30,000
With a retracement to 0.5 โ 27,000 or 0.618 โ 26,300
If there is a bounce + volume, it could be a good entry.
7. Final advice:
Do not use Fibonacci alone.
Use it along with market structure, volume, and patterns.
๐ It is a tool to help you, not to predict the future.
๐ฌ Did you already use Fibonacci in your analyses?
Save this thread and share it if it helped you.
Iโm listening ๐
โธป
#Binance #CryptoBeginners #Fibonacci #CryptoTrading #TechnicalAnalysis #CryptoEducation #CryptoLearning #BinanceEnglish #TradingForEveryone #CryptoTips #FibonacciTrading #CryptoThread #InvestInCrypto #LearnTrading #FinancialEducation #CryptoForBeginners
Did you see that many use Fibonacci but donโt know where to start?
Today I will explain how to correctly draw the retracements on Binance (web or app) to improve your entries.
๐งต๐
1. What do you need?
A price chart (spot or futures), preferably in 4H or 1H candles.
Identify a clear price movement: from a low to a high (or vice versa).
2. Fibonacci tool on Binance
๐ Go to tradingview.binance.com or enter a chart in the app.
In the sidebar, look for the tool icon: โFibonacci Retracementโ.
3. How to draw the retracement correctly
โ In an uptrend:
Draw from the recent low (swing low) to the high (swing high).
โ In a downtrend:
Draw from the recent high (swing high) to the low (swing low).
4. Key levels to observe
๐ฏ 0.382 โ usually the first relevant support/resistance
๐ฏ 0.5 โ widely used by traders
๐ฏ 0.618 โ the โgolden levelโ, ideal for seeking entries
5. What to do with these levels?
๐ธ Wait for confirmation of support/resistance at one of those levels
๐ธ Use other indicators like RSI or volume
๐ธ Never enter just because it reaches 0.618
6. Practical example (BTC)
Imagine a movement from 24,000 to 30,000
With a retracement to 0.5 โ 27,000 or 0.618 โ 26,300
If there is a bounce + volume, it could be a good entry.
7. Final advice:
Do not use Fibonacci alone.
Use it along with market structure, volume, and patterns.
๐ It is a tool to help you, not to predict the future.
๐ฌ Did you already use Fibonacci in your analyses?
Save this thread and share it if it helped you.
Iโm listening ๐
โธป
#Binance #CryptoBeginners #Fibonacci #CryptoTrading #TechnicalAnalysis #CryptoEducation #CryptoLearning #BinanceEnglish #TradingForEveryone #CryptoTips #FibonacciTrading #CryptoThread #InvestInCrypto #LearnTrading #FinancialEducation #CryptoForBeginners