@Barcode：$Tesla Motors(TSLA)$ @Happiness. Thanks for your question in your $SoFi Technologies Inc.(SOFI)$ post! And congrats once again!🎉🙌🥳 23Nov24 is National Fibonacci day in the USA🇺🇸🇺🇸🇺🇸 I'm going to pay tribute to my favourite and most phenomenal guy, Fibonacci today to help me explain my charts to you: 🎯📈🎯 Fibonacci: The Trader’s Golden Ratio for Precision Profits!🎯📈🎯 What do spirals in nature, stock charts, and profitable trades have in common? Fibonacci! Today, let’s unlock the secrets of this mathematical genius and how his tools are shaping the markets, and my trading profits 💰💰💰! 🧠 Who Was Fibonacci? Born in 1170 in Pisa, Italy, Fibonacci’s real name was Leonardo Bonacci, but to traders like us, he’s the godfather of precision. His travels with his merchant father introduced him to the Hindu-Arabic numeral system, which he later introduced to Europe in 1202 through his book “Liber Abaci” (The Book of Calculation). This book also introduced the Fibonacci sequence: 1, 1, 2, 3, 5, 8, 13 🍀🍀🍀, 21… Each number is the sum of the two before it. This sequence also underpins the Golden Ratio (1.618), the foundation of patterns found in nature, architecture, and trading strategies. 🌍 Fibonacci’s Fingerprints on Nature and Markets The Fibonacci sequence, often called “nature’s secret code,” is everywhere: • 🌻 Flowers: Petals grow in Fibonacci numbers to maximise sunlight. • 🐚 Seashells: The nautilus shell is a textbook example of Fibonacci spirals. • 🌪 Hurricanes and galaxies: Their spirals mirror Fibonacci’s proportions. • 😊 Human faces: Features aligned with the Golden Ratio are universally attractive. Even DNA and the branching of trees follow Fibonacci’s principles. Whether it’s nature or the markets, Fibonacci reveals hidden patterns of order. 📈 Fibonacci in Action: $TSLA Example as I posted on Tiger for assisting me in entry and exit. As traders, Fibonacci retracements help us identify: • 23.6%: Minor pullbacks 🔄 • 38.2% and 50%: Moderate retracements 📉 • 61.8% (The Golden Ratio): Key reversal zones 💡 Harmonic patterns take this to the next level. These advanced setups use Fibonacci ratios to form precise geometric shapes that help predict price movements. Think of them as Fibonacci’s evolved cousin! As in the $TSLA setup I posted, a harmonic Cup aligned perfectly with Fibonacci retracement levels. The 1.5 extension at $332 acted as a magnet for price action, while the 1.618 level at $339 confirmed the upward breakout. This is trading precision at its best: 💡 What Are Harmonics? Harmonics combine Fibonacci ratios with patterns like the Cup and Handle, Gartley, or Butterfly to signal turning points. For those curious, this is a basic explanation of harmonics worth diving into (Learn more here.). 🔧 My Fibonacci Workflow • Time Frames for Analysis: I use Fibonacci retracements on the daily or 4-hour charts to identify major support and resistance zones. • Time Frames for Trades: For execution, I zero in on 5- or 15-minute charts for precise entries and exits. • Log vs. Linear Scale: While some traders prefer linear scale, I’ve found log scale works best for percentage-based movements, especially in volatile stocks like Tesla. • Tool of Choice: 📊 I rely on TradingView Premium to automate Fibonacci retracements and overlays. The platform calculates these levels for you, saving time and ensuring accuracy when analysing complex patterns like harmonics. 🎨 Fun Fibonacci Facts 1. Lucky 13: My lucky number 🍀🍀🍀 appears in Fibonacci’s sequence—and it’s been my charm in trading! 2. 🌸 Flower Power: Fibonacci numbers optimise the arrangement of petals for sunlight. 3. 🌌 Galactic Glow: The Milky Way’s spirals follow Fibonacci patterns. 4. 🌪 Weather Wonders: Hurricanes are Fibonacci spirals on steroids. 5. 🐚 Seashell Swirls: Nature’s Fibonacci perfection fits right in your hand. 📜 Why Celebrate Fibonacci Day? Fibonacci Day is more than just a tribute to a mathematician~it’s about recognising the interconnectedness of nature, numbers, and human ingenuity. Fibonacci’s insights laid the groundwork for modern computing, technical analysis, and harmonic trading patterns. Take a moment today to marvel at Fibonacci’s genius. Whether it’s the spiral in your coffee foam or the trendline on your chart, his influence is everywhere. Hey Tiger Traders, do you use harmonics or Fibonacci retracements in your trading? What’s been your biggest win using these tools? TigerGPT, can you suggest advanced ways to combine Fibonacci extensions with harmonic patterns for maximum trading precision? Happy trading ahead. Cheers, BC 🍀🍀🍀 @Tiger_comments @TigerPicks @TigerStars @TigerPM @TigerObserver @Daily_Discussion @TigerGPT Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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