How to Use Fibonacci Retracement to Analyse Profitable Trading in Gold

gold coin financial chart

What is Fibonacci Retracement?

chart that shows the high and low points of Fibonacci Retracement

How can we use Fibonacci retracement to help us analyze a profitable gold trade?

image of a Linear Weighted Moving Average set to 200
image of MACD set to 12 EMA, 26 Slow EMA, and 9 MACD SMA
image of ADX with the period set to 14
image of the price chart when all indicators are set

Step 1

chart that shows when the price is on a downtrend
chart that shows Fibonacci retracement set at level 0 and level 100

Step 2

chart that shows the pattern at the beginning of a trend reversal strategy on H4, D1

Step 3

what the chart looks like when you prepare to take a long trade using Fibonacci retracement

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