📉 We use the Fibonacci retracements for spotting discount and premium levels in a range.
đź“ť We draw the Fibonacci tool from the bottom to the top in an uptrend, and from the top to the bottom in a downtrend.
Terminologies: EQL: equilibrium = a state of physical balance (50%). Discount: we buy from Premium: we sell from
To make it more approachable, we can compare using the fib tool as a scanner when you go to the supermarket. You won't buy the product when it's expensive, but only buy when it's cheap. Beside that - if we want to sell a product to a supermarket, we want to get the highest price as possible.
Combining it with order blocks You can basically increase the probability of order blocks with the fib tool. Order blocks that are not in discount you won't buy from, and order blocks that are not in premium you won't sell from.
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