How Do You Use Oil Trading Fib Retracement?
The oil Fibonacci retracement levels are explained below: traders should use this Crude Oil Fibo Retracement Levels oil indicator to determine where to open a trade whether a buy oil trade in a oil up trend and a sell oil trade in a crude oil trading downwards trend.
How Do You Use Crude Oil Fibonacci Retracement Levels For Day Trading Oil?
How Do You Use Crude Oil Fibonacci Retracement Levels For Day Trading Oil?
How Do You Use Crude Oil Fibo Retracement Levels For Day Trading? - Crude Oil Fibo Retracement Tool Discussed
How Do You Use Crude Oil Fibo Retracement Levels For Day Trading? - Crude Oil Fibo Retracement Tool Discussed
How Do You Use Oil Trading Fib Retracement?
In the technical analysis example shown and illustrated below the crude crude oil trading price is moving up between chart point 1 & chart point 2 then after chart point 2 it retraces down to 50.0% retracement level then crude crude oil trading price continues moving up in the original upward crude oil trend. Note that this oil retracement indicator is drawn from point 1 to point 2 in the direction of the oil trend (Upwards Direction).
Technical Analysis of How to Use Oil Fibo Retracement in an Up Oil Trend
Technical Analysis of How to Use Crude Oil Fibonacci Retracement in an Up Crude Oil Trend
Once the crude crude oil trading price hit the 50.0% retracement level, this retracement level provided a lot of support for crude crude oil trading price, & afterwards oil market then resumed the original upwards oil trend and continued to move upward.
For this technical analysis example, the crude crude oil trading price retracement reached the 50.0% retracement level, but most of the time the oil market will retrace up to 38.2% retracement level and therefore most of the time oil traders set their buy limit oil orders at the 38.2% Fibonacci retracement level, while at the same time placing a stop just below 61.8% Fibonacci retracement level.
How Do You Use Oil Trading Fib Retracement?
In the Oil Retracement Strategy example shown below the oil market is moving downwards between chart point 1 & chart point 2, then after chart point 2 the crude crude oil trading price then retraces up to 38.2% retracement level then it continues heading downwards in the original downward crude oil trend. Note that this oil retracement indicator is drawn from point 1 to point 2 in the direction of the oil trend (Downwards Direction).
Technical Analysis of How to Use Oil Fibonacci Retracement in Downwards Oil Trend
Technical Analysis of How to Use Crude Oil Fib Retracement in Down Crude Oil Trend
The above technical analysis examples is a oil retracement trading setup where the crude crude oil price retraces immediately after touching the 38.2% Crude Oil Trading Fibo Retracement Level.
In this technical analysis example the retracement of crude crude oil trading price reached 38.20% retracement level & did not get to 50.00% retracement level. It is always good to use 38.20% retracement level because most times the crude crude oil price retracement doesn't always get to 50.0% retracement level.
This Oil Retracement level provided a lot of resistance for the crude crude oil trading price retracement, this was the best place for a oil trader to place a sell limit oil order as the oil market quickly moved down after hitting this crude crude oil price retracement zone.
