Malaysia

2025-04-29 02:26

IndustryHow to plot Fibonacci levels on USD/JPY charts
#CurrencyPairPrediction How to Plot Fibonacci Levels on USD/JPY Charts: 1. Identify a Trend: Find a significant recent move on the USD/JPY chart — either a strong upward (bullish) or downward (bearish) trend. 2. Select Swing Points: In an uptrend, click the lowest swing low and drag to the highest swing high. In a downtrend, click the highest swing high and drag to the lowest swing low. 3. Apply Fibonacci Tool: Use the Fibonacci retracement tool in your charting software (like TradingView, MetaTrader, etc.) to draw the levels. 4. Focus on Key Levels: Common retracement levels are 23.6%, 38.2%, 50%, 61.8%, and 78.6%. These indicate potential areas where USD/JPY could find support (in a pullback) or resistance. 5. Watch for Price Action: Look for confirmations like candlestick patterns or volume changes at Fibonacci levels to make trade decisions.
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How to plot Fibonacci levels on USD/JPY charts
Malaysia | 2025-04-29 02:26
#CurrencyPairPrediction How to Plot Fibonacci Levels on USD/JPY Charts: 1. Identify a Trend: Find a significant recent move on the USD/JPY chart — either a strong upward (bullish) or downward (bearish) trend. 2. Select Swing Points: In an uptrend, click the lowest swing low and drag to the highest swing high. In a downtrend, click the highest swing high and drag to the lowest swing low. 3. Apply Fibonacci Tool: Use the Fibonacci retracement tool in your charting software (like TradingView, MetaTrader, etc.) to draw the levels. 4. Focus on Key Levels: Common retracement levels are 23.6%, 38.2%, 50%, 61.8%, and 78.6%. These indicate potential areas where USD/JPY could find support (in a pullback) or resistance. 5. Watch for Price Action: Look for confirmations like candlestick patterns or volume changes at Fibonacci levels to make trade decisions.
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