Using The Fibonacci Retracement and Extension levels

I've explained how can can use Fibonacci levels in trading using example of NSE:TATA STEEL
. Firstly know your trading perspective, and choose your chart time frames accordingly
. Now use higher time frame chart and draw FIBONACCI RETRACEMENT TOOL from bottom to top(in Uptrend)
and top to bottom (in downtrend) for current trend.
. Mark the levels using horizontal line, near stock is trading currently
. Use smaller timeframe to get retracement levels in uptrend or in downtrend, and now make Fibonacci extension levels from top to bottom(in uptrend)
and bottom to top(in downtrend) for current swing
. Mark all the important levels, these will work as support and resistance
. Now, using RSI,MACD,EMA sets you can trade your position for these levels




HAPPY LEARNING AND START INVESTING