🔹 Thread 22 – How to draw Fibonacci retracements on Binance step by step (Visual guide)

Did you see that many use Fibonacci but don’t know where to start?

Today I will explain how to correctly draw the retracements on Binance (web or app) to improve your entries.

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1. What do you need?

A price chart (spot or futures), preferably in 4H or 1H candles.

Identify a clear price movement: from a low to a high (or vice versa).

2. Fibonacci tool on Binance

📍 Go to tradingview.binance.com or enter a chart in the app.

In the sidebar, look for the tool icon: “Fibonacci Retracement”.

3. How to draw the retracement correctly

✅ In an uptrend:

Draw from the recent low (swing low) to the high (swing high).

✅ In a downtrend:

Draw from the recent high (swing high) to the low (swing low).

4. Key levels to observe

🎯 0.382 – usually the first relevant support/resistance

🎯 0.5 – widely used by traders

🎯 0.618 – the “golden level”, ideal for seeking entries

5. What to do with these levels?

🔸 Wait for confirmation of support/resistance at one of those levels

🔸 Use other indicators like RSI or volume

🔸 Never enter just because it reaches 0.618

6. Practical example (BTC)

Imagine a movement from 24,000 to 30,000

With a retracement to 0.5 → 27,000 or 0.618 → 26,300

If there is a bounce + volume, it could be a good entry.

7. Final advice:

Do not use Fibonacci alone.

Use it along with market structure, volume, and patterns.

📌 It is a tool to help you, not to predict the future.

💬 Did you already use Fibonacci in your analyses?

Save this thread and share it if it helped you.

I’m listening 👇

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