How to draw FIBONACCI RETRACEMENT in TradingView? - NakedTrader-serie TradingView #04

How to draw FIBONACCI RETRACEMENT in TradingView?

The Fibonacci Retracement can be used as an extra confirmation for your trading setup.
In this video I will show you how to draw a Fibonacci Retracement in TradingView.

The Fibonacci Retracement can be found at the left bar it is the icon with a few layers and two dots

If you want to use the Fibanacci Retracement you should use the following steps:
-Select the asset you want to analyze on the chart
-Select the timeframe you want to use
-Choose "Fibonacci Retracement" from the list of drawing tools.
-Click and drag your mouse from the lowest point of the trend to the highest point of the trend you want to analyze.
-Release your mouse button to create the Fibonacci Retracement levels on the chart.

You can customize the levels of the Retracement by clicking on the tool and adjusting the percentage levels. Additionally, you can customize the colors and style of the Fibonacci Retracement lines by clicking on the gear icon located next to the drawing tool.

Fibonacci Retracements are a popular tool used in technical analysis to identify potential levels of support and resistance in a trend. By using these levels, traders can identify potential entry and exit points for their trades.

The serie will contain easy short tips about "How to" related to Tradingview.

Chapters
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00:00 ⏩ Intro
00:16 ⏩ How to draw FIBONACCI RETRACEMENT in Tradingview?
01:12 ⏩ Thanks and Goodbye + Outro

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