Fibonacci Retracement within a Fibonacci Retracement - part 2 of 6

 MartialChartsFX 


  

Admin



CategoryTrade Theory

PublishedJan 4, 2023, 8:42 PM EST

Views221

Fibonacci Retracement within a Fibonacci Retracement - part 2 of 6



THE INNER FIBONACCI PATTERN

Within our bullish Fibonacci pattern from part 1, we can see a potential bearish Fibonacci pattern forming. Now this makes it confusing for the trader.

Should we close out the buy trade based on the formation of a bearish Fibonacci pattern and then sell or trust our analysis and continue to hold our buy position?

The photo shows the typical sell setup that many traders would take based on what they are told about Fibonacci retracements and extensions.

But will this trade be profitable?

Find out in part 3 of this series.

Comments (
0
)



Similar Posts


MartialChartsFX™
MartialChartsFX™

Comment

You must be logged in to comment.

Click Here To Login



Close