Now it’s your turn. At this point in the course we have set a task to reinforce what we’ve shown you. This task will require you to use a charting package to carry out the exercise. You can set up a free practice trading account with access to charts here.
Goal: To add retracements accurately.
Exercise: In a chart of any market find an extended up or downtrend. Practice adding Fibonacci retracements, you will need to specify where it starts and stops. Make sure you can see the retracements at 23.6%, 38.2%, 50% and 61.8%. Do any of these levels act as support and resistance?
Difficulty: 1/3
Time to complete: 15 minutes
Solution….don’t press play until you’ve done your bit:
