I practised Fibonacci retracement on VWRA, using a recent swing low to swing high.
I would mark the 38.2%, 50% and 61.8% retracement levels and watch whether price finds support around them rather than treating Fibonacci as a prediction by itself.
For a hypothetical long setup, my first target would be a retest of the previous swing high. My second target would be the 1.618 Fibonacci extension if momentum continues. The stop-loss would sit below the swing low, where the original bullish setup is clearly invalidated.
The product I would like a deeper walkthrough on is VWRA. I invest in it regularly, so I would be interested in how Fibonacci, support/resistance and trend indicators can be used without turning a long-term DCA strategy into short-term market timing.
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