Do you want to add a more professional trading technique to your arsenal?
The Fibonacci OTE can help you find optimal entry points in a trade.
The Fibonacci OTE uses Fibonacci retracement levels to identify potential reversal zones in a trend.
The three levels used are 0.705, 0.786 and 0.886.
As simple as configuring them in your TradingView
The 0.786 level is the most important of the three Fibonacci OTE retracement levels. (And my favorite level) 🤫
It is the level with the highest probability of reversal in a trend, making it a key point to look for entry opportunities. 🎯
To use the Fibonacci OTE, you need to identify a trend and wait for a retracement to one of the Fibonacci levels. (Like traditional Fibo)
If this trend is within another and that point converges with a minimum, the probability increases. 🧠
Once the price reaches the OTE level, it becomes a potential entry zone.
It is advisable to look for confirmation signals such as volume, technical indicators, SMC or other analysis methods before opening a position.
Remember that crystal balls do not exist.
As with any trading technique, it is important to use the Fibonacci OTE in conjunction with good risk management and a solid strategy.
You should not rely on just one tool to make trading decisions.
In summary, Fibonacci OTE is a trading technique that uses Fibonacci retracement levels to identify potential reversal zones in a trend.
Incorporate it into your analysis and you will see how it helps you find better entry points in your operations. 🤝
That's all for today
I would like you to leave me what you think, especially in the comments.
See you in future articles. Arnau4Bet
