What are the ICT fib levels used in cryptocurrency trading?

3 answers

• Nov 25, 2021 · 3 years ago
  Sure! ICT fib levels, also known as Fibonacci retracement levels, are a technical analysis tool used in cryptocurrency trading. They are based on the Fibonacci sequence, a mathematical pattern that occurs frequently in nature and financial markets. These levels are used to identify potential support and resistance levels in a price chart. Traders use ICT fib levels to determine entry and exit points for their trades, as well as to set stop-loss and take-profit levels. By analyzing the price action around these levels, traders can make more informed trading decisions.
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• Nov 25, 2021 · 3 years ago
  ICT fib levels are like the secret sauce of cryptocurrency trading! They are these magical levels that traders use to predict price movements. Basically, they are based on some fancy math stuff called the Fibonacci sequence. Traders draw these lines on their charts and then they magically become support and resistance levels. It's like a self-fulfilling prophecy! So, when the price approaches these levels, traders expect it to bounce off or break through. It's like having a crystal ball for trading!
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• Nov 25, 2021 · 3 years ago
  ICT fib levels, or Fibonacci retracement levels, are widely used in cryptocurrency trading. These levels are derived from the Fibonacci sequence, a series of numbers where each number is the sum of the two preceding ones. Traders use these levels to identify potential areas of support and resistance in a price chart. For example, if the price of a cryptocurrency is in an uptrend and then retraces, traders may look for buying opportunities near the 38.2% or 50% fib levels, which are common areas of support. Conversely, if the price is in a downtrend and then retraces, traders may look for selling opportunities near the 38.2% or 50% fib levels, which are common areas of resistance. By using ICT fib levels, traders can make more informed decisions and increase their chances of success.
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