Fibonacci retracement levels are used as support and resistance levels. Fibonacci extension levels are used as profit taking levels. So, forex Trading Tutorial we will learn today is how to apply Fibonacci tool and how to interpret results that we see on the screen.
Fibonacci tool available within their trading platforms. So, click on Fibonacci tool from trading platform that you use. A — our lowest swing, B — our highest swing. So, we will look to BUY some lots at the good lowest price and go up with the trend. Click on A and drag your cursor to B, click. You must see different lines appeared on your chart.
Those lines are called Fibonacci Retracement and Extension Levels. To calculate Fibonacci levels yourself, refer to How to calculate Fibonacci levels. B to some point C, and then continue up in the direction of the trend. Fibonacci retracement levels where we expect the price to take a U-turn and go up again. There we will place our BUY order. The best situation would be to buy at the lowest level — 0.
And on practice the price usually gives us this chance. 500 is also a good level to place a BUY order. Well, let’s take a look at the progress. The price has successfully reached the lowest 0. 618 point and made a U-turn. So, now when we have our BUY order placed at desired point C, we would like to set some targets to take our profit in the future.
618 extension level, but when the price shows good potential to reach next 1. 618 level, you can leave your trade to get that target too. 618 extension level as our profit target, and according to Figure 2, D is our point for taking profit. Important note: in this Fibonacci tutorial 0. Thus moving further from B would be 1xx. For example: looking at the last picture, if to start counting from point A, then point D would be a 1.
618 Fibonacci extension level or a 161. Forex trading is a high risk investment. All materials are published for educational purposes only. Forex trading in Urdu i will Teach you online Forex Training in urdu you will be able to learn Basic Forex in Urdu Here you also learn Forex Guide in urdu. Learn Complete Forex Trading in Urdu. Learn forex Trading in Urdu what is forex ? Forex infact has been taken from forign exchange, currency exchange and currency trade ehter changed of any other’s currency is called forign exchange.
It is biggest market in the world. This work hast started in 1971. How to work forex market ? USD is a currency pair and there is also a major currency pair and cross currency pairs in Forex trading markets. Trader want to trade it may be buy or sell who act upon this process is call broker Type of Broker is STP and ECN. Forex Trading Urdu Here i will Guide you Order types we have two types of orders first is instant order and 2nd is pending orders. If you analysis the market and you think that the market up and down pips.