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What are the key factors to consider when using fib retracement on TradingView for altcoin trading?

avatarGodwin McKenzieNov 24, 2021 · 3 years ago1 answers

When using fib retracement on TradingView for altcoin trading, what are the important factors that should be taken into consideration?

What are the key factors to consider when using fib retracement on TradingView for altcoin trading?
Fib Retracement
TradingView
Altcoin Trading

1 answers

  • avatarNov 24, 2021 · 3 years ago
    When using fib retracement on TradingView for altcoin trading, it is important to remember that fib retracement levels are not guaranteed to hold as support or resistance. While they can provide valuable insights into potential price levels, it is crucial to use them in conjunction with other indicators and analysis techniques. Additionally, it is important to consider the overall market sentiment and news events that may impact the altcoin's price movement. By combining fib retracement with other analysis methods and staying updated on market news, traders can make more informed decisions when trading altcoins.

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