On October 24th at 16:00, the AICoin editor shared a graphic and text presentation on the topic of "Best Points for Fibonacci Detection Community Indicators" in the 【AICoin PC - Group Chat - Live】. Below is a summary of the live content.
This live session mainly aimed to share the Fibonacci retracement tool.
You can find this tool on your candlestick chart.
: Why focus on retracements this time?
: Because every retracement is an opportunity, a good chance to enter the market. Our research team is concerned that everyone might enter the market randomly without good measurement tools, so this live session specifically brought this tool to everyone.
If you can't find it, you can search for Fibonacci here.
【The mobile version also has Fibonacci lines, but if you are doing analysis, it is more recommended to use the PC client, as drawing lines is more convenient.】
Fibonacci Retracement
The key to Fibonacci—just find the high and low points and know how to read the corresponding golden ratio lines, and that’s enough.
The research team provides two types of approaches:
The first approach: Include both upper and lower shadows.
The second approach: Only consider the body of the candlestick.
However, they cannot be mixed; a fixed method is needed.
For example, our research team prefers the model that includes shadows.
The operation method is:
● Find a segment of market movement (which can be understood as a cycle such as 45 minutes, 15 minutes, 1 hour, etc.), the high and low points within that time frame.
● If the trend is upward and a retracement occurs, connect the low point to the high point, and then focus on the support line of the retracement.
● The corresponding support line is not yet an entry opportunity; it just indicates that the price is unlikely to drop further or may rebound quickly.
● At this time, a trading system is needed to help identify entry opportunities, which can combine major orders and traditional indicators; all of these are acceptable.
For example, if a PRO member was drawn in the live room, or if they purchased a PRO membership at a 10% discount, they can use the major order combination method.
1. Step one: I will clean up the candlesticks here and remove all indicators.
2. Step two: Let’s search for the major order indicator together and make some simple adjustments.
It is recommended to check these platforms.
This is well-researched; Binance has a large spot trading volume, and for contracts, both Binance and OKEx should be checked, as large traders generally make significant trades on these two platforms. If Binance is not checked for spot trading, you can consider checking Coinbase.
3. Step three: Adjust the values of the large orders.
For BTC, it is recommended to adjust to these parameters.
Set the spot to 4 million and the contract to start at 8 million, so you can capture the main forces in the entire market.
: "Will we miss the main forces if their orders are small?"
: "AICoin's major order precision probe algorithm can identify the vast majority, so you don't need to worry about this. As long as you activate the major orders, the main forces in front of you are essentially exposed."
After setting it up, we display it on the candlestick chart.
: "Why use Fibonacci in combination here?"
: "Actually, some main forces do not complete their operations in one go; they may do it multiple times. Therefore, Fibonacci can be used for filtering. As emerging major traders, we can achieve the same effect as the main forces entering multiple times by entering once or twice."
For example, this time, we look at the position of BTC.
It is clear that there is a major order hanging around 0.382, making this a very good support level. Once this major order is executed, we can consider entering; if it drops to this position and the major order is not executed, it indicates that the main force continues to be pessimistic, and we will wait.
This is the benefit of combining Fibonacci with major orders—stable and effective.
If you are not a member yet, there are ways to assist you in market observation, with many traditional indicators available for combination.
The live room used Bitcoin as an example, with a 45-minute cycle.
The lowest and highest points of this market movement are these two.
Now, let’s take out the Fibonacci measurement tool to see where this retracement has gone and whether there is already support.
Through this method, you can take out a measurement tool; you can think of it as a ruler.
We can see that after this retracement reached 0.382, there was another quick rebound.
If there is a buy signal at 0.382 that you also see, wouldn’t it greatly boost your confidence to take action, rather than listening to a half-informed analyst shouting orders and entering randomly?
Now, you can check if there are suitable buy signals at this position and look for some community indicators. For example, I subscribed to this community indicator.
You can see that this set of indicator signals gave a buy signal at 0.236.
From the perspective of the retracement, it is worth trusting it; this is the resonance of indicators.
If you refer to this strategy, you can buy at 0.236.
However, there was no buy signal at 0.382, so you can wait.
Let’s filter another set of indicators.
This time, we selected the second indicator strategy.
If you want to refer to this strategy, how to use Fibonacci to view it, is this strategy's signal suitable for you?
After subscribing, you find that there is an oversold signal here.
So is this signal worth following? You can pull up the Fibonacci tool, connect the high and low points, and find that this is an important support level. Therefore, this buy signal is worth considering.
This is how to use Fibonacci to strengthen confidence and filter whether the signals are worth entering.
There is also a recommended indicator for non-members that can be used in combination with Fibonacci.
It is the EMA bullish resonance indicator recommended by our research team last month.
: I believe everyone knows that indicator signals cannot be 100% accurate. So how can we improve our effectiveness?
: You can consider using this set of resonance signals and then combine them with Fibonacci's support and resistance for signal entry, achieving twice the result with half the effort!
Displayed on the candlestick chart, the effect is very good.
This method is very suitable for those who have not activated membership. As long as you subscribe to an indicator you think is good and use the Fibonacci tool to filter whether this signal is worth it, rather than just listening to an analyst's one-sided opinion and the reported signal levels, combining the two makes your operations more stable.
If you want to know the levels and recommended communities, you can click here.
Find the indicators in the community indicators, backtest them one by one, and include those with high returns in your choices, and those with many subscribers in your selection list, rather than just listening to others. Use your own analysis and let the data speak for itself, which is safer and more reassuring.
【PS: The market is changing, and the research team will recommend the most suitable tools based on market changes. Indicators cannot adapt to all market conditions; otherwise, trading would lose its fun.】
The above is the complete content of this sharing.
Thank you for watching. We hope every AICoin user can find suitable indicator strategies and enjoy abundant wealth!
Recommended Reading
Approaching new highs, how to cleverly use resonance signals - AICoin https://www.aicoin.com/article/424440.html
Moving Average Game: The Transformation from Candlesticks to Wealth
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