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ForeXecutor Talking about Fibonacci Retracements
ForeXecutor Talking about Fibonacci Retracements
| Talking about Fibonacci Retracements |
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I realized today that I may be making no sense to a few of you that follow the blog, when I talk about Fibonacci Retracements. Sometimes I’ll mention a  Retracement level and then rattle off a bunch of numbers, then move on. SO I thought I had better fill you in on how I go through the process.For example in today’s email I used the following statement: “The limiting factor in the pair is the 38.2% retracement of 1.1714/1.1314 at 1.1466.” Here is how I would break that statement donw. First I usually mention the level I am talking about. In the above statement it am talking about the 38.2 Retracment line. Then I will name the move that the retracment lvel is in refeance to. In this example it is a fall form 1.1714 to 1.1314. If the the move had been a rise, I would put the lower number followed by the higher number. Last of all I usually give the value of the line that is equal to the retracment value mentioned in the beginning. 
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