This week’s standout trade was based on Fibonacci levels. A coin had just completed a sharp rally and started retracing. I used the Fibonacci retracement tool and marked the 61.8% level — a common area for price reversals. I waited for a bullish engulfing candle at that level and entered with a tight stop below the swing low. The price respected the level perfectly and began its next move up. This setup reinforced how effective simple tools like Fibonacci can be when used with patience and confirmation. Many traders overlook these retracement levels, but they often act as magnets for reversals. Combining Fibonacci with price action gave me the edge I needed in this trade.
