🧵 Thread 28 – How to use Fibonacci levels to set your entry, stop loss, and take profit on Binance 🎯
📉 If you already know what Fibonacci numbers are, now it's time to use them correctly.
🔹 Here I explain how to place ENTRY, STOP, and TAKE PROFIT using these levels 👇
1️⃣ First, we identify the impulse:
Look for a clear movement (upward or downward).
Use the Fibonacci retracement tool from the start to the end of the impulse.
2️⃣ Important levels:
✅ 0.382 – Good point for a conservative entry.
✅ 0.5 – Riskier but effective entry.
✅ 0.618 – Ideal point for many traders.
❌ Below 0.786, the trend starts to invalidate.
3️⃣ Where do I put the STOP LOSS?
🔸 Just below (or above, if it's short) the 0.786 level.
That protects you if the price breaks the structure.
4️⃣ And the TAKE PROFIT?
🔹 You can use extensions:
• Level 1.0: first target.
• Level 1.272: second target.
• Level 1.618: most ambitious target.
5️⃣ Example on Binance (image below):
• Entry: level 0.618
• Stop loss: below 0.786
• Take profit: at 1.272 and 1.618
📌 Tip: Don't rely solely on Fibonacci. Use it with volume, candles, and market structure.
💬 Do you already use Fibonacci for your trades?
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