How To Find Right Entry And Exit Point In Banknifty Option Trading
Bank Nifty Option Price Action Strategy For Beginners
Bank Nifty Strategy Option Buying Strategy
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Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. They are based on Fibonacci numbers. Each level is associated with a percentage. The percentage is how much of a prior move the price has retraced. The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and 78.6%. While not officially a Fibonacci ratio, 50% is also used.
The indicator is useful because it can be drawn between any two significant price points, such as a high and a low. The indicator will then create the levels between those two points.
KEY POINT
1 - Fibonacci retracement levels connect any two points that the trader views as relevant, typically a high point and a low point.
2 - The percentage levels provided are areas where the price could stall or reverse.
3 - The most commonly used ratios include 23.6%, 38.2%, 50%, 61.8%, and 78.6%.
4 - These levels should not be relied on exclusively, so it is dangerous to assume the price will reverse after hitting a specific Fibonacci level.
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How To Find Right Entry And Exit Point In Banknifty Option TradingBank Nifty Option Price Action Strategy For BeginnersPrice Action Strategy















