Looking for Support or Resistance? Fibonacci Levels Could Help

0
57

Stocks often pullback after rallying, or bounce following a decline. Traders must often rely on their own judgement to determine when such a countertrend move is complete. However the Fibonacci retracement tools available on TradeStation’s desktop platform can assist in the analysis. These mathematically calculated levels often become support or resistance. Breaking well-established price lines can also reveal a change in trend.

This instructional video explains Fibonacci levels, their calculation and use in technical analysis of the stock market. It also covers how they can be added to price charts and customized to fit individual trading styles.

Advertisement #1 Trading Platform Technology - 8  years running!

Previous articleStocks Rise for 7th Month, Led by Tech Stocks like Paycom and Etsy
Next articleIPOs, iPhones and Fed Tapering: Stocks Enter the Home Stretch for 2021
Jesus Nava is the Director of Client Training and Education for TradeStation. He started with TradeStation in 1999 as an account manager for its international reseller division. In 2003, he started managing the TradeStation Client Services Department, where he trained brokerage and technical support representatives in topics including stocks, futures, options and advanced platform features. His interaction with thousands of clients has broadened his understanding of how traders invest in the markets and use the TradeStation platform to their advantage. He is currently involved in developing learning materials and delivering platform training to TradeStation users nationwide. Mr. Nava holds Series 24, 7, 63, 3, and 34 registrations with TradeStation and is an active associate of the Market Technicians Association.