 I don't think many do it. I think some of the problems, actually. Maybe, maybe five, 10 people. That's 10 people. Hey, guys. How's everyone doing? How is everyone doing? Cool, cool. Are you guys able to see us? Are you guys able to see us? Oh, wow. There's a nice bunch of people tuning in. Good stuff, good stuff. Hey, OK, that's nice. Hey, Winnie. Nice to see you, nice to see you. Alvin, nice to see you, too. OK, all right. You guys can change who you're messaging. You can actually change it to everyone, so that everyone can see each other's messages. Yeah, so I'm going to type it over here. Hi, everyone. OK, we have a good bunch of people tuning in today. All right, hey, hey, Gabriel. Hey, hey, hey, Kingsley. Nice to see you. Thanks for tuning in. Nice and early, guys. All right, all right. Hey, Jehan, right? Hey, Amada, right? You guys can actually, let me see if the chat actually, oh, no wonder attendees can chat with everyone. I've just changed it. So I think you guys can now send messages to everyone. Oh, that's great. That's great. OK. Hey, guys. Hey, yeah. Nice bunch of you guys here. We got record attendance today. A lot of you guys are tuning in now, right? Okay, that's good stuff, good stuff. Right, yeah, we've got a pretty nice session today. I know it's our long-awaited session on Fibonacci Retracements, right? So it'll be pretty awesome, right? It's very advanced, but it actually forms the foundation of everything that we're gonna be learning, right? A lot of my trading strategies uses Fibonacci for those of you guys who have been following me for a while. You know, I sometimes go a little bit too crazy when it comes to looking at Fibonacci Retracements like extensions, expansions, projections, right? A lot of stuff, right? Jeanette is asking, I'm a beginner. Is this webinar applicable to me? I say yes, right? Because we're teaching you the very beginnings, right? The very basics of Fibonacci, right? So yes, Fibonacci is a pretty advanced topic, but we're actually going into the basics of it today. So it'll be the perfect session, right? Right, Oli Yinka, right? We are just starting, right? Can I just get a show of hands, right? Where are you guys tuning in from? Which countries are you guys tuning in from? Right, and if anyone wants to guess which country I am from, right? You can take a shot at that too, right? I'm pretty sure most of you guys will not know where I'm from, right? All right, Eileen looks like, you know, correct. I'm not from the UK, I'm not from the UK. I've got quite a number of people from the Philippines today. We've got Nigeria, UK, Ghana, right? All right, Lucy, how do you know? How do you guys know? Right, I'm not from, okay, forgot people from Sri Lanka, Malaysia, Bangladesh, Ghana. All right, that is great, good stuff. All right, okay, great stuff, right? I am not from the Philippines, right? A couple of you guys guess Philippines, but no, I'm from Sunny Island, Singapore, right? So not sure if any of you guys have ever been to Singapore, but yeah, I know it's pretty close to Philippines, it's pretty close to Malaysia and Indonesia, right? I think it's just a one-hour flight in any of the directions, right? So yeah, I know if you ever come to Singapore, let me know, then I can grab a meal together, right? Okay, I already see questions on the Fibonacci. Let's begin today's session. Okay, let's begin today's session, all right? Rosalind, I will answer your question, I will answer your question in the chat, right? Now, for today's life, for today's ultimate forex trading masterclass, right? We have a really great topic, Fibonacci retracements, a lot, very, very popular, but a lot of people use it wrongly, right? So in today's session, in today's session, I'm really gonna teach you guys how to use it properly, because if you know how to use it properly, the amazing thing is that it really, really opens in, it helps you see the markets in a completely different way. One reason is because it's a market leading indicator, right? Moving averages are lagging, trend lines are lagging, a lot of indicators are lagging, RSI, parabolic stars, stochastic, MACD, all of it are lagging, right? But a Fibonacci retracement is leading, right? I'll be showing you today how to use it effectively, okay? Now, of course, disclaimer before we begin, guys, remember today's webinar is purely educational in nature, so everything in this webinar should not be constituted as investment or trading advice. Please do your own due diligence before you guys trade, all right? Now, moving on from here, so introducing your hosts for today, right? For those of you guys who are here for the first time, right? My name is Desmond Leong, right? And today's session will be on Fibonacci retracements and also extensions. You might be looking at it and wondering what in the world is Fibonacci extensions? I thought it's just a retracement, right? So yeah, in today's session, it'll be quite interesting, right? I'll be showing you a, not only retracement, but how you can, whatever retracements go beyond 100%, that goes into extension, all right? So anyway, your hosts for today, Desmond Leong, run the award-winning research firm, Everest Fortune Group. So we are actually the finalists for our best effects and equity research 2019, 2020, and 2021, right? So you should work with the major financial institutions on telling them where the markets are heading. But we have a special partnership with TickMeal, where I bring you guys the good stuff, the juicy stuff, the stuff that I take your trading to the next level. Over the next few weeks, you'll be launching a community room, a VIP room for TickMeal, where you'll be able to see me and my fellow team here, right? You can basically get a direct line to us and we look at the markets together, right? It should be a couple of weeks away, pretty exciting stuff, all right? Now, we have a person called Bon Jovi here, Bon Jovi Sedano, right? That's great stuff, man. I'm a big fan of Bon Jovi, right? Not sure it's the name coincidental, but yeah, it's a nice name, yeah? Hey, Sundit from India, nice to see you, all right? Okay, now let's begin today's session, right? Now, one thing I always want to teach you guys, you know, right, is that in trading, right? It's important, trading is different from the world of academia, right? Let me repeat that again. Trading is different from the world of academia. A lot of people think that you need to spend, I mean, you know, you need to spend 30 years, right? Learning how to trade. You need to appear on Bloomberg, you know, you need to be old and wise, you know, to know how to trade the markets. But the truth is, you know, it just takes 30 days learning the right stuff. You really put your time into it, right? In 30 days, you can dramatically learn a lot more, you can really take your trading in the right direction. Look at me, I'm a young guy, right? I'm not like, I'm not 60 years old, I don't know, even like, I haven't been in the industry for 30 years, right? And most of us are seven, eight years, right? But it's learning the right things, right? Not learning the wrong things. Because really, the recording of the webinar, I was showing you how to get a copy of it later. I don't think you'll be uploaded immediately. I think it takes a while to get it uploaded, but I'll show you how to get access to it, okay? Now guys, always remember that in trading, it's different from the world of academia. The more you study, right? So I'm gonna show you, where's my handy dandy little mouse, right? So in the world of academia, they assume that the more you study, right, equals to better results, okay? The more you study, equals to better results. But the world, those people who are very smart, right? Sometimes they struggle when it comes to trading, right? The reason for that is because their mindset is so in tune with the world of academia. They think that the more they study, the more they read about the markets, the more information they consume, right? The better they're gonna be, right? So that is where there is that little bit of conflict, right? It's not the more you study, the better you be, right? Instead, right? In the world of trading, right? It is the more you study, right? This is trading, this is academia. The more you study does not equals to better trading. You need to study the right stuff, right? We need to study the right stuff. I can see people asking for my social media handles. I do have, right, that I openly let people know. If you want, you can follow me on... Notting much you can find there, honestly. You can find me on Comfy Desmond, right? It's just me and my cat. And once in a while, FIFA, right? You can find me there, right? Yeah, you can find me there if you want, all right? Notting much there, okay? Now, let's get started, let's get started, all right? This is our agenda for today, right? We're gonna look at the ideal market structure when it comes to trading, when it comes to ideal market structure on doing a Fibonacci retracement. We're gonna look at trend lines, okay? Now following the trend line, there's a certain concept to that which I will explain to you guys. There are many, many different Fibonacci retracement levels which is important, which is not so important. I'll be explaining to you guys too, right? Fibonacci extensions, right? This is where it gets a little bit more intense. Those that go beyond 100% and how you can combine it together, okay? Now, before I begin, do any of you all have any questions? Okay, let's begin today's session, all right? Ideal market structure, you know? What are FIB levels for? Now, a lot of people, when they, let me show you how to find Fibonacci, right? Will we be using the FIB strategy on short-term trades or long-term trading? Both short-term and long-term, you can apply it for both short-term and long-term. It usually works a little bit better, right? On the H1 timeframe and above, right? So Fibonacci, right? You can use it on M1. You can use it M5 all the way to H1, right? H4, even D1 and above. Now, as with all technical analysis, right? The shorter-term timeframe, anything before H1, right? Tends to be a little bit too noisy, right? Tends to be a little bit too noisy, right? Brian, yeah, I'll talk about those levels in a bit, right? Tends to be a little bit too noisy. So usually using it on the H1, H4, right? Slightly more reliable. And if you're analyzing charts on the H1, H4, on H1, your trades, so let me remove that. H1, your trades could be anywhere from, it's usually a day trade, okay? And for H4, your trades are usually swing trades. Swing trades, right? Swing trades over here. On the D1, that's where it can be a swing trade too, right? A H4 D1 could be swing trades for you to take note of, okay? So it's not about whether a short-term or long-term trading, right? Because it all depends on the strategy or on the chart, on the timeframe that you analyze it on, right? If you analyze it on a higher timeframe, naturally, it'll be for a longer-term trade. If you analyze it on the one-minute chart, no matter how many ways you look at it, it's gonna be a short-term trade, okay? So important consideration here. Now, of course, remember, technical analysis usually work better on the higher-time frames because more people can look at it, more people can look at it, more people can use it, more people can use it, then it's more effective. On the one-minute chart, you might be the only person down there trying to draw a Fibonacci retracement and it might not be that effective, okay? Now, let's move, so let's talk on topic, what are Fibonacci levels for? All right, so Fibonacci levels are, they're used to forecast where price might reverse from. Okay, let me repeat that again, right? Fibonacci levels are used to forecast where price might reverse from, right? And that's one of the great things because notice the word I say forecast, right? It can actually tell you in the future at what point price might reverse. Let me show you an example, right? I got a handy-dandy little chart over here. Now, just let me do a quick Fibonacci level. Okay, sorry, all right, play. Okay, so imagine this is a fresh chart that you're looking at, okay? And you draw a Fibonacci retracement from here all the way down to here, okay? Now we are just gonna look at this 50% retracement, okay? So the important thing about Fibonacci is that, you know, yes, technically you can come in here and you can see all the different Fibonacci. You've got 23, 38, 50, 61, and 8.6. Some people say it's in a 6.4, right? And then you've got 100%, you can go further and further and further. But let's just look at 50% over here, right? The interesting thing about Fibonacci is that it's actually forecasting that price might come all the way to here, touch this level and reverse a bit. That is what Fibonacci retracements are for. They basically help you forecast which level are you gonna see a reversal from? So what happens, right? What happens is that price goes up bit by bit, bit by bit. We can see, all right, you know, it's testing that 50%. It touched the 50% over here, right? And then, right, you can see it drops, it touch, it drops, it touch, it drops, right? So this is the beauty of Fibonacci retracement. It tells you in advance where price might reverse from. Now, before you go out there and use Fibonacci retracements to trade everything, right? There's always, I need to caution you, right? It might look like it works for 50%, but if I had actually load all the charts, we might see that, you know, at the 23% mark, it did not reverse. At the 38%, right? 38% it reverse a bit before breaking it, right? So that therein lies the power and the flow of Fibonacci, right? You need to use it correctly. You need to trade it properly, right? In order to really, really harness the power of Fibonacci. If you just look at it by yourself and you take a 50% retracement, 100% stop loss, 100% take profit, it's not gonna work, okay? There's a certain style to using Fibonacci to trade, right? It's usually what we call a concurrent style of trade. You play the reaction from it that works most effectively, okay? Now, what I want to encourage you guys, I can see a couple of you guys who are raising your hands, right? If you have a question, ask it right away, because trust me, we will not have time to answer all the questions at the end, the Q&A session. Traditionally, our sessions always run, you know, always run out of time before you can answer all the questions. So if you wanna get a question in before everyone else, right, just send it in. If it's relevant, I will answer it, okay? If it's not relevant, I'll leave it to the end, right? Ola Yinka, I can see that you're asking me if I have a mentorship program, no, we don't, right? We don't have a mentorship program, right? Instead, I believe Tickmeo will be launching their VIP room or community room pretty soon, right? You'll be able to find me in there, right? And you'll be able to ask us questions in there, but no, we don't offer training, not like many of those Instagram forex gurus out there, okay? Okay, now I can see a question for Stephen, right? Shouldn't you use Fibonacci retracement following an impulse swing, right? Impulse swing. We'll talk about market structure in a bit, right? So I'll show you how, when you can actually use Fibonacci retracement, okay? Give me a second. All right, okay, now that we know, now that we know what are Fibonacci levels for, okay? Let us go into the ideal market structure, right? So this is related to Stephen's question, you know, on shouldn't you use Fibonacci retracement following impulse swing? So these are, you know, these are impulse little swings, technically you're seeing it over here, right? You look at the way I draw it, right? Small little impulse swings here and there, but these are insignificant, okay? The key term here that we're looking for is significant. How significant is the impulse? How significant is the swing? Because if the swing is not significant enough, it's a bad way to use Fibonacci, okay? So in this example, you see, when you're looking at a chart, these are what I call insignificant swings. They are bad for Fibonacci. Let's look at flip side, all right? Let's look at flip side. These are what I call significant swings, right? So I think that's what you mean, Stephen, or is it Stephen? They're pronouncing currently Stephen or Stephen, right? These are significant swings, right? It's big enough, right? They're okay, right? I can use this as a Fibonacci to start and end my Fibonacci retracement, all right? You're always looking for significant levels, right? You got a question from Mr. Koo, right? What timeframes are best for Fibonacci retracement or which timeframes are not suitable, right? Short answer to a otherwise really, really long question, right, is usually H1 and above. I tend to use Fibonacci and H1. Lowest I go is the M30 time frame. I do use it on H1, H4 and D1, right? But I usually stick to the higher time frames. I do not go into the Wawa West of the M1, M5, one minute and five minute charts, okay? Sean, nice to see you tuning in from South Africa, right? Okay, so this is what I mean by significance, right? This is what I mean by significance. Let's see. Nope, not this, okay. Now, important point that I want to touch on, right? Let me just pull up a chart over here. Important point that I want to touch on. When you're drawing Fibonacci, right? I'm gonna erase all this. One thing that you want to take note of, when I draw Fibonacci, I'm gonna zoom in here. Can you notice, right? Do you notice that there is this dotted line, right? All the way, there's this dotted line over here. Usually people kind of ignore it a bit, right? Usually people kind of ignore it a bit, but this dotted line holds the secret to using Fibonacci effectively, right? If you think, if you look carefully into a Fibonacci setting, this is actually called the Fibonacci trend line. So you can turn it on, you can turn it off. Why is it a trend line? Because it's meant to follow the trend. It's as simple as that. The Fibonacci trend line is meant to follow the trend. The closer it is to price, the more effective it's gonna be. Let me show you an example. Okay, let me show you an example. Now I got this, remove this here. I got Fibonacci trend line here, right? You notice that it follows price very, very closely, right? Price doesn't deviate that far from it, right? The Fibonacci trend line is there. There are many cases where people do not use it properly and this is how it looks like, right? They start from here, right? And they draw it down here. Now, look at the trend line. You notice that, okay, initially over here it's okay but it starts to deviate, it starts to deviate and this is where it deviates so far away, right? Can you see the amount of space that is over here? A huge amount of space, right? And the problem with this is that the further the deviation from the trend line, the weaker the Fibonacci is gonna be, right? Let me repeat that again. The further price deviates from the Fibonacci trend line, the weaker it's gonna be, okay? So this is a very, very important consideration when you're drawing Fibonacci, right? So you notice that if you could actually, some people draw Fibonacci in a very wild way, right? Let me see, like maybe they draw it from here to here, right? This is a terrible one. I'm not even gonna explain it, it's just pretty terrible, okay? That's the first consideration, right? I can see a question from Jato, right? If you are new to Fibonacci, how to get more training on it, right? How to get more training on it? Well, you tune into this webinar, right? The reason I saying it's not because of bias or something but it's also because that a lot of people tend to teach Fibonacci wrongly, right? A lot of people teach Fibonacci wrongly, right? They don't place enough emphasis on small little things like this, right? When you draw Fibonacci like this, right? They just say, yeah, you know, pick a swing high, pick a swing low, and that is enough, right? You draw Fibonacci, right? It's not from a swing high, swing low, that is enough, right? But of course, when you do this, that's where you miss out on the small little important details of that. Yes, you can pick a swing high. Yes, you can pick a swing low, but the price in between the swing high and swing low should not deviate too much from your Fibonacci trend line, okay? I can see a question from Indika, like what is the difference between these and gun grids or gun angles? Gun angles are using angles. I believe it uses something with astrology, right? You are literally seeing stars, right? When you are using gun angles and I tend to stay away from it, right? If I'm not wrong, gun actually uses a little bit of astrology in order to get the different angles, right? I'm not a big fan of it, so I tend to stay away from it, but this is different, okay? Now, how do we set up the Fibonacci levels? Very simple, right? So if you guys don't have it yet, go get a trading view account, right? Now, you will also notice that TickMill actually gives you a free trading view account. I think a premium account, right? So go check out because you can actually check out, TickMill Trading View. Yes, TickMill is a broker on Trading View. You can check it out. We haven't got enough, we haven't got people to leave all the ratings there yet. That's why it's low, but man, if we did, right? We have a really much better rating, right? But I just nearly launched over here, but you can please come in here and even trade directly through, if I'm not wrong, you can trade directly through Trading View to TickMill, right? Because there's a trading view, there's a direct trading view integration, okay? Now, once you get that account, right? How do you set the Fibonacci up, right? Very simply, when you draw Fibonacci retracement, you only click this little button, the gear icon, or you can double click it. You will notice there are many, many different Fibonacci levels. You probably want to disable all those that are beyond 100% for starters. I will explain how you use different levels, right? But for those of you guys who are interested in the levels that I'm using, I can see a few questions on it, these are the levels that I'm going to use, I'm going to type it out here. So take a screenshot of it if you need. I used 23%, I used 38.2, actually I do 23.6%, 38.2%, 50%, 61.8%, 78.6%, I don't use 88%. But these are, within the retracement, some of the levels that I do use, I don't use 11%, I don't use 76.4. 76.4 was actually created because what they did, I think someone asked a question earlier about 76.4, right? 76.4 was actually created by taking 100% minus 23.6%. They did that because they think that 38.2 was used by taking 100% minus 61.8, right? They just thought they just flip it around, just 100% minus that. But 78.6% is actually the correct Fibonacci retracement, not 76.4, all right? So a little tip for you guys, all right? Not that it really matters because they are super duper close, 76.4 and 78.6, right? How do you use Fibonacci on an Android phone, right? You get an Android tablet, right? Because it's really, really difficult to do Fibonacci retracements on an Android phone. I think you can on TradingView, TradingView does have an app that allows you a mobile app that does help you do Fibonacci retracements. But if you try to do Fibonacci retracements on MT4, you're gonna have a hard time, man, right? You're gonna, it's gonna be very difficult, right? Lucy, I can see you, I see you, like I have a copy of the webinar. For those of you guys who are asking, right? I'm gonna show you the link now, right? You're gonna wanna go to YouTube. You're gonna wanna go to YouTube, TickMeal, right? And let me send you guys a link, all right? Let me just send you guys a link. Come in here, right? Go to Playlist, and we have it here, the Ultimate Forex Trading Masterclass. Copy this link, I'm gonna paste it here. I'm not sure if you guys can see it, but I just pasted the link. All the previous webinars that I've done, right? Support and resistance, pullback, overlap, trend line channels, stop loss and take profit placement, price action strategies. You can come into here and check it out, all right? It's a great place. I really, really go in depth into it at TickMeal, right? We're actually working on creating the best Trading Masterclass for people to go through. So if you really, really go through it, right? Take the time. This amount of knowledge that you can get over here, right? It's something which many gurus out there are gonna charge you an arm and a leg, couple of thousand dollars just to get it, right? We are gonna teach you all of it. We're not gonna charge you a single cent. All of it is free, right? So go in there and learn, okay? Go in there and learn. And when we launch our community portal or VIP portal, you will then have a nice little trading room where you guys can come in and practice your analysis, practice your, your technical analysis, your trend lines, your Fibonacci, that's where you can practice it with us, all right? But for starters, for starters, come here and watch this webinar, all right? Trust me, you're gonna be sick of my voice at the end of it, but it's gonna help you be a better trader, okay? No worries, no worries, Satil, no worries, mascot, no worries, Lucy. Once this, I think it probably won't be at the end of the week, but yeah, TICMU marketing team should be able to upload today's webinar up by the end of the week, right? Gene is, is this Gene An? I think, what's in it for you, Desmond, if it's all free, right? It's free for you, but it's not free for TICMU, okay? It's not free for TICMU. TICMU pays a lot of money to have to invite us down as external expert to have this one session with you guys, so trust me, right? They love you, they don't want to be able to do that. So yeah, it's not all for free, okay? It's not all for free. TICMU really, really puts in a lot of effort to create this, to create this playlist, this educational session for you guys, all right? Now, let's continue today's session. Let's continue today's session, all right? Right, no worries, guys, no worries. Tay Fun, right? When will you send the indicators for MT5? Which one are you referring to, right? Which one are you referring to? Okay, now, follow, okay, follow a price structure. I taught you guys previously, right? I taught you guys previously, but this is exactly what I'm talking about, right? If this is the price structure, right? Put it into a nicer G form for you guys. We want to follow the price structure, okay? We don't want, right? We don't want our Fibonacci to cut through the price structure. So same thing, it's all about looking at significant swing levels, right? Significant swing levels, okay? Do we do crypto technicals, right? Anthony, it's not whether we do crypto technicals or not, but technical analysis can be applied on all different markets. It does work pretty well for crypto for one reason, right? Crypto sometimes is a, they don't, cryptocurrency doesn't have something like an economic news calendar, okay? Cryptocurrency does not have something like an economic news calendar, right? Meaning that there isn't a list of, I mean, what is an economic news calendar, right? Just search forex, economic calendar, right? You see the whole bunch of announcements over here. You're not gonna get this stuff for cryptocurrencies, right? And in the absence of such economic news events, technical analysis prevails, right? More people are gonna look at trend lines, more people are going to look at channels, more people are gonna look at Fibonacci, right? So that's the funny thing I noticed about cryptocurrencies, is that in a funny way, it respects technical analysis more because there aren't just that much news items to look at, right? So Anthony, yes, cryptocurrency, technical analysis can be used on cryptocurrencies. Tay Fun, I remember is the trade manager that you're referring to. I'm so sorry I have not sent in yet, right? Let me send it to you guys by the end of tomorrow, okay? We just got a whole bunch of testimonials coming in, right? But yes, I will send it to you guys tomorrow, all right? Tay Fun, I'm sorry about that. Okay, now let us go back to this session. Remember, follow the price structure. So this is exactly what I'm referring to. You want your Fibonacci to follow the price structure as much as possible, okay? A few handy little things that I want to teach you guys, right? And when is a Fibonacci invalidated, okay? When is a Fibonacci invalidated? Let me show you. I will do it maybe in the form of a little quiz for you guys, right? If I have a Fibonacci retracement, let me just see. Let me just see, right? If I have a Fibonacci retracement from here to here, let me do a bar replay feature, bar replay feature. This is the starting point and this is the ending point, okay? The moment, price, actually I'm not gonna make it a quiz, sorry, I'm just gonna give you guys the answers, right? The moment, this is the low point, okay? This is the starting point and this is the ending point. Now, one thing you want to take note of is that the moment this low point of the ending point gets broken, right? That Fibonacci retracement cannot be used anymore. Unless, of course, we go into Fibonacci extensions, tuning the week after, right? For this, what is it in the next week? You know, it should be a week after for these Fibonacci expansions, right? When do you use negative 27, right? There's actually a certain method to the madness, right? But there's a time to use the negative 27. Most of the time, right? Oh, Lazarus is drawing the class of first time. Welcome, you're a little bit late, right? But I hope you can catch up, all right? So yes, usually when this level is broken, it is not there anymore. You can remove the Fibonacci retracement, okay? A few things to take note of too, right? When you are drawing a Fibonacci retracement, okay? No matter where you draw it, always start from the left and end on the right. I'm gonna repeat that again. No matter where you draw it, always start from the left and end on the right. What do I mean by that, right? If you're looking at this over here, right? If you're looking at this chart, some people draw Fibonacci this way. They start from here and then go over here. That is the opposite way around. You're going from right to left, which is wrong. What you want to do is you want to start from the left and go to the right, okay? What exactly does Fibonacci retracement mean? Very simply, 23.6%, you know I'll use an easier term for it, an easier level, 50%, okay? What does the 50% Fibonacci retracement means, right? So I'm just gonna come in here. I'm going to remove everything. I'm gonna just leave the 50% over here. What exactly is the 50%? Let me show you, okay? We got a price range from here all the way to the top here. If you can see it, I'm going to increase the label size, okay? This is a total of 434 pips, 434.5, okay? A Fibonacci retracement means that you take from here and you come all the way to the middle. 218.1, 218.1 times two is 436, right? It's just about that, it's about 50%. May I just need to tweak it a bit, right? 217 is about, yeah, 434, okay? So 50% Fibonacci retracement is just half of the entire move, right? Half of the entire vertical move of the price. That is what Fibonacci retracement is. That means if it is 61.8, means that you're taking this amount of distance over here, 434 times 0.6, right? 50% means that, yeah, this entire move from here to here, you're coming down halfway, that's about it, right? Coming down halfway, right? Now I can see Justin asking a question, does the auto Fibonacci work as a manual? No, auto Fibonacci do not work that well, okay? Auto Fibonacci really, really do not work that well because there are too many, coming from a guy who actually tried to create an auto Fib indicator, right? It just doesn't work that well, right? It's okay to give you suggestions, right? But it doesn't work that well. Actually, I'm quite curious, right? So what if we, does TradingView have an auto Fib? I think it might have, okay? Does TradingView have auto Fibonacci? Auto Fib retracement, yeah, let's see. Well, that sucks, right? It's not really, it's not really a great level. Maybe I can give it a chance and like fine tune it a bit. So deviation and debt, right? For those of you guys who are familiar with deviation and debt, right? Remember these two words, you can come in here, you can load the ZIC, I should be, I think this is the one, the ZIC ZIC indicator. The ZIC ZIC indicator also uses deviation and debt. So it's the same thing. What TradingView does is that they have used a ZIC ZIC indicator. They use the same deviation and debt to try to actually draw Fibonacci retracements, right? Now, look at this here. What did I tell you? See, the TradingView indicator would think that this is the starting ending point, right? And they're gonna draw Fibonacci retracement with a start point here and the ending point here. What is the problem with that? The problem is that price deviates so much from the original Fibonacci trend line that we talked about, right? So just this example by itself shows you that auto Fibonacci doesn't work that well. There's a little bit of human intuition when you look at it and say, yeah, you know what? Price tends to deviate a little bit too far. It's the same thing, you know? We draw from here all the way to here, right? I can give you a really, really nice level, right? I can draw this line. Can you see this, right? This is nice from the starting point to the ending point here. This is a nice way to draw Fibonacci, but if you auto Fibonacci might be able to help you pick this, but they will also join this one here, which is not as nice. So you need to, you could use it as, the way I'm looking for is you can use it as a gauge, right? But I wouldn't use it. I would still use my own knowledge to kind of filter it a little bit more, okay? Nazareth is asking if you can apply Fibonacci retracement levels in mobile phones. If your phone is a gigantic phone, maybe, right? Otherwise, it's a little bit tough to do that, right? What about harmonics and Fibonacci? Okay, this is where it gets quite fun, right? Harmonics and Fibonacci. Okay, let me pull up a harmonics thing for you. Let me look for a harmonics pattern for you. Let's just call it like this. Okay, notice the numbers over here. 471, 462, 965, 584. What are these numbers? These numbers are actually Fibonacci retracement. I'm gonna take a Fibonacci retracement, draw from the stop all the way down here, right? You notice 471. 471 is about 50%. So I can just change this and this is 471, right? 47.1, you notice it's exactly at where the point B is, right? I think I just need, if this is the ending point, this is the top, 498, sorry, this should be 498. Yes, you notice this movement here, 498 refers to a Fibonacci retracement of 498, okay? Harmonics uses Fibonacci. Just like harmonics uses Fibonacci extensions and retracements mainly, right? They don't know how to use Fibonacci projections that much, right? But harmonics uses Fibonacci, right? So I won't teach Bollinger Band now, yeah? We got a question on where is zero dollar hating? I'll see if I can touch on that later because I do want to touch on Fibonacci extensions first, all right, before we go into maybe some requests, right? So yeah, harmonics uses Fibonacci. Now, important thing for you guys to take note of, right? Important thing for you guys to take note of, I'm gonna come in here and what I'm gonna look at is the different Fibonacci retracement levels. You'll notice what I've told you so far, right? Is that if I start from here to ending here, the main ones are over here, zero to 100%. These are what the majority of people uses, right? These are what the majority of people uses. Now, then there are those like 127 up here, that is above 100%. And then there are those below here, negative, right? Which are, you know, negative 27 and negative 61, right? These are a little bit more advanced. They are a little bit harder to use, but they are very, very effective. How to use them? Today, I'm gonna teach you. Today I'm gonna teach you how to use those above 100%. I'm gonna teach you in a way that is very simple, right? Something that you guys ought to look out for, okay? Because if you know how to use it correctly, right? You know, you can see like this is a Fibonacci extension. Okay, maybe not this example. Let me try to find this, 161.8, all right? Okay. What you want to go for, what you're looking for, you'll notice is a Nike take over here. Look for the Nike take. Look for the Nike take and the levels you wanna look for is 127. 138 and 161.8 over here, okay? The Nike take, right? A brand that we're so familiar with, right? It's the key to a lot of profitable trading strategies, right? Ray is asking a really good question. I'm gonna show it to you in a bit, right? So this is the key. The thing that you look at is this Nike take. Ray asked a good question, right? Anything this 127, right? This is the Fibonacci extension. Fibonacci expansion is down here. That is below less than 0%. That means in the negative Fibonacci region, okay? So always very important thing to take note of, right? So yes, where was I? Fibonacci extension are those above 100, negative Fibonacci expansions are those below here. It's a little bit more difficult to use this. So I'll teach you in the next session on how to use it, right? But super duper powerful too, okay? Now, let me just show you some of the charts, all right? Let me show you some of the charts over here. I see if I can find some of the examples. I think one of the examples I did recently was on Cat Yen. I think it was Cat Yen. Where are you gonna find my Cat Yen? It's squinting a bit, can't really see. Cat Yen over here. And what I'm going to do, I'm going to remove the zigzag to remove this, all right? So what do you wanna look for the Nike tics? Let me just show you how effective the Nike tics are, right? So in my Fibonacci retracement, right? What I'm looking for is just mainly the 127, okay? First example here. First example over here, right? What you're looking for remember is the Nike tic. Nike tic and look for the 127 as the level to play a reversal from, okay? We have testimonials of people sharing that just with this trading strategy alone, right? They were able to treat very, very profitably. But a lot of it comes down to risk management which I will be teaching you guys in the future. But what I want you guys to know is that 127, this Nike tic is the level you're looking for. Let's see what happens, right? Price is gonna go bar by bar by bar. Touch the Nike tic over here. And then it reverses. What we usually do is we play the reversal back to the 100% that it broke out from. That in itself is an amazing strategy, right? That in itself is an amazing strategy. Usually works better on the H1 and H4. What do you guys to do, right? What do you guys to do? Go on to trading view. Start looking for little Nike tics, right? Little Nike tics and see if you can find nice little setups because I'm going to just show you a couple of examples over here, right? And I can see even for those times when you don't think you're making money, you're actually making money, right? Let me show you an example over here. A trade that I took myself, right? Look at this move. You're looking at this move and you're thinking, wow, this would not have made money, right? This, okay, Stephen, I'm not saying Nike tics. I am saying Nike tic, right? Nike tic, this is a Nike tic I'm looking for, not Nike tics. Yes, yes, thank you guys, right? The first time someone ever said it, yeah, it's not Nike tics, it's Nike tics, right? Sorry, I need to work on my enunciation, right? So you guys can get it better, right? So this is an example of a reverse Nike, oops. This is an example of a reverse Nike tic, right? It's a reverse Nike tic. So you got the Nike tics, and if you buy the fake version, you got the inverse Nike tic over here. So most people think that this wouldn't have worked out, right? They say, yeah, the 127% got broken, right? Price just went down, you have been stopped out, but this was a trade I took myself. And this is an example, right? Look at this over here. We got the 127, right? And we got the 100 over here. What happens is that price, right? We got the Nike tic, it comes here, it comes down. So remember, we got a little reverse Nike tic formation here. It comes down one more bar. It touches our entry, right in the trade. I will take profit, remember, I always put it back at where the 100% is, where price broke out. It reverses a bit, see? We hit our take profit, then reverse. Then if it goes on from there, it doesn't matter because we've got out of our trade. Yes, it's a really great way for placing pending orders, right? I want you guys to go out there and test this, right? Of course, proper risk management. And again, this is not trading advice, right? It's not trading recommendation, but go manually back test it, go and look, right? Every time you see a little Nike tic, just think to yourself like, man, would this have worked out, right? Would this Nike tic have worked out 127? And look at the level there, how accurate it picked this 127. It reversed, very, very nice, right? Why is it taking so long to load? Yeah, just take a look at some of it, right? Even with this inverse Nike tic over here, probably, there we go, inverse Nike tic, see? It just comes here, comes all the way down, touches the 127, and then it reverses back. You don't need to play it all the way, you know, just catching the small little trade is good enough, okay? I want you guys to go and practice this. What is the trigger? What's the TP? The entry is the 127. My stop loss, I mean, I can share with you guys this now, right? But I usually use 1.45 as my stop loss, and my TP is the 100. 1.45 to give yourself a little bit of breathing space. TP is back at the 100% where I broke out from. I don't wait for a candle to close to consider a break. I'll put my pending order, my pending order is right here. Stop loss here, take profit here, right away, right? It's in advance. Remember, Fibonacci is a leading indicator, right? It's a leading indicator. It tells you where price is hitting, what might happen, right? So you must use that to advantage. If you wait for price to break, if you wait for price action, right? It's gonna cause you, you know, wait for confirmation. It's gonna cause you to slow down, right? I'm gonna cause you to slow down, I'm gonna miss a trade. For example, in this example over here, right? Let's go and let's see, all right? I have Fibonacci over here. 127 is my entry, okay? Let's just say 127 is my entry down here. One bar, two bars, three bars. Okay, if you waited for price action, if you waited for confirmation, do you think you would be able to get in at this price now? Price is now over here, right? Then you wait for another confirmation, right? Oh, that's great. Wow, this is a nice rejection, you know, price action. Something like a tweezer bottom, right? And this is now your new entry, right? This is now your new entry. Your stop loss is still far away and your take profit is over here. Yes, price does go up and hit your take profit. Actually it goes up to the next bar and hit your take profit right away. But because you waited for a confirmation, right? Whether it's a confirmation bar, you notice in this case if you waited for a confirmation bar, you have completely missed out on the trade already, right? If you're waiting for confirmation, candlestick pattern, right? You would have missed out on the trade. Now you would have missed out on half the profit already. So when it comes to Fibonacci, retracement, Fibonacci, extensions, right? A market leading approach, right? You now have the knowledge of forecasting where price might reverse from. Use that knowledge and put pending orders in place, right? Don't wait for confirmation, right? Confirmation is useful for certain strategies like maybe you're waiting for a candlestick pattern to form price action, then you find a bullish candlestick, right? Yes, okay, reverses happening. By then the train has left the station, right? So be careful, right? Okay, I have so many questions. I'm beginning about learning some new stuff. Please can you say something to do when you see a Nike take and reverse Nike take, right? Usually, right? Samuel, Samuel, should be Samuel, right? 127, I always look for 127 as my entry, 145 as my stop loss, and 100% where I broke up from as my take profit, okay? Isn't it risky following the retracement than the trend, right? Yes and no, right? Okay, so technically, so for some of you guys who are saying, hey, Nike take, if you're getting in over here, it's risky because you're playing against the trend, right? You're buying over here to come up to here. Yes, you're playing against the short-term trend, but technically, you know, you could be in the direction of the long-term trend, which is going outwards, right? So don't let the trend, if the overall trend is in your favor, that's great. In future sessions, I'll be showing you guys how to combine multiple of it. What do I mean? Okay, I hope this works out, right? There we go, okay. What I mean by Fibonacci confluence, right? This is something I'm going to teach you guys. Maybe previously, you had this thing down here, one, two, seven as your entry, okay? I'm just going to remove everything. I'm going to remove everything and just leave one, two, seven, and maybe one, one, two, seven, one, three, eight, one, four, five. I know we're just going to one, two, seven, okay? This is just one Fibonacci by itself. It's already a pretty decent hit rate, but what if we can throw in something extra, right? Can I do a Fibonacci expansion? So I think we had a question earlier on Fibonacci expansion. Right now we got negative 27, right? So I don't only have a one, two, seven, I have a negative 27, right? So if I have one factor, why am I bounced? I have two factors, why am I bounced? I go all the way down here, right? Where would I draw my Fibonacci retracement from? Probably here, right below. I'm not sure if this lines up, but I can just check. 38%, yeah, pretty well. Let me just go all the way down here. 38% over here. You take it right from here, right? You follow trend line very nicely. I'm going to select this, I'm going to select 38%. Let's take a look over here. Initially, you had one reason why it's going to bounce. You had the one, one, two, seven over here. You do a Fibonacci expansion. Now you got two reasons why it's going to bounce. Then we draw a big retracement all the way from the bottom. Now you got three reasons why it's going to bounce. Initially, initially you might have a low chance. So maybe if this gives you, let's think about it, if this gives you a 30% heat rate, this gives you a 20% heat rate, this gives you a 20% heat rate. By themselves, they're not that strong, but you add them together, 20, 30, right? You got 20, 20, 40, 70. Now you got a 70% chance that price is going to bounce, right? So that is the concept of confluence. Of course, the percentages are arbitrary, right? But that is the thing that I want to teach you guys, right? It's about finding confluence. That's why in the next series, we're going to talk about Fibonacci expansions and Fibonacci projections, right? But the key thing here is that, yes, for today, I'm going to teach you extensions and I'm going to teach you guys retracements, right? But in the future, I'm going to show you how you can combine them together to find really, really good setups. This is an example of combining Fibonacci extension with a bigger Fibonacci retracement to give you what we call Fibonacci confluence area, right? I can see Dan saying, do you use market orders when you position like that? Nope, I don't. I use pending orders. I try to predict whether markets are hating. I put a pending order there, okay? Now, last thing, I want to show you guys. Go to TechMe.com, all right? TechMe.com, there is a link that you want to go to. You want to go to webinars, all right? Next week webinar is on the 8th of August, right? I'm going to click this link for you guys, right? It's me. Next week, 8th of August is my birthday. So I will not be presenting, all right? I will not be presenting, right? So it's either going to be Jin or Annabelle who will be presenting next week's session, maybe a live trading session. So be practicing some of the things that we learn today, pretty fun stuff. Then on the 15th of August, I'll be teaching you guys and also advanced Fibonacci trading strategy but it's going to be Fibonacci expansions and projections. Advanced happy birthday. Thank you very much guys. Thank you very much, all right? Now, so this is the thing, right? This is the thing guys, right? When it comes to learning Fibonacci, trading strategy, right? It's all by itself, it might be weak but if you combine them together, that's where the strength occurs, right? This is how like a single stick, you can easily break a single stick but if you combine multiple sticks together, it becomes much harder to break it, okay? So in today's strategy, what I want to leave you guys with is try to do two things, right? Find a Fibonacci extension and a Fibonacci retracement lining up together. Fibonacci extension, Fibonacci retracement, sorry. Like in this example, we got a nice 38% and then we got a nice Fibonacci, a Nike take, look out for the little Nike takes, try to find the examples. Practice, right? You can see one to seven coming with one, three, eight. If you can find two of them that lined up together following the strict rules I've outlined, very, very high chance of a reversal. I bet you'll be 25 next week, Desmond. Yeah, thank you. I know I look very young, right? I look very young. Okay, thank you very much. Stay fun, thank you very much. Kingsley, Dan, right? Sentio, right? I have a great birthday session, right? Okay, go look out for this guys, all right? Now, one last thing I want to ask of you guys, right? One last thing I want to ask you guys, go register for, freaking, freaking tongue tight. Go register for next week, so we're not gonna paste it over here, right? While I like you guys to register, it's because we're really trying to build a community, right? I think it's next week, hopefully next week or the week after, we should be able to finally launch our VIP community portal. As long as you have a technical account, you'll be able to get access to it, right? It'll be great and fun stuff, right? I do want to, as we've all ticked me up webinars, I'm gonna run a quick poll, right? Do me a favor. The poll raised this webinar from one is to five, one being the worst, five being the best, right? Don't worry if you rate a one, I will not hunt you down, right? But at least share and let me know why, right? So I can, we can improve it, right? So that's the important thing, right? You're gonna see a lot more of me, you're gonna see a lot more of us, along the way, right? But the important thing is that our teaching style, you want me to focus more on questions, you want me to have a more dedicated Q&A session, you want me to slow down a bit, right? Share it in the comments, so I know we, so we know how we can improve, improve ourselves over time, right? So it's cause after all of it, we're teaching, right? Teaching, one is not the best, one is the worst. So if you voted one, please stop it over to five, okay? Jeffrey, I was kidding. No wonder, were you the one who voted one? Oh man, come on then, right? But okay, we got a good bunch of you guys who, who rated one of the most effective webinars attended. Thank you very much guys, right? Thank you very much. Okay, slow it down a bit. All right, I'll be a little bit slower. I'm gonna talk quite fast, right? Thank you very much guys. I'm gonna end the poll. We got a good 76% who voted four and five, right? 17% voted three, thank you very much. I'm gonna end the poll over here, right? I'm gonna share the results so you guys can see, right? Okay, pretty good, right? Yes, but remember, if you have feedback, share with us on how we can better, I can see a lot of people saying slow down a bit. Yes, a lot of people saying slow down a bit. I will try my best to slow down a bit in the upcoming webinars, right? So then I can catch up, sometimes I get a little bit too excited. Yeah, it gets a little bit walled, right? But yes, thank you very much guys, okay? Now, that's it for me guys. Taley, why isn't reason for number 127 instead of other numbers 127 is because it's a nice fit level that is just beyond the 100%. Usually it's the level where it reacts and goes back down to the 100%. It's like the pullback before people play the breakout, right? So you're actually getting in one step before people play the pullback, okay? Yes, I use this strategy myself. So a six from you. Thank you very much, Niu-Wenna, all right? Thank you, thank you for the birthday wishes. I was, the record webinar should be out on the YouTube channel, hopefully next, this week. No worries, more of the slides just a quick basic summary of the, all right? No worries, Julie, all right? I will, that's why we're rotating, right? That's why we're rotating between not only teaching, but analysis, live trading, teaching, this is where strategy diagnosed, we're rotating between teaching and practicing, teaching and practicing. It's not just gonna be all teaching, right? Because that's where the practicing really is very important to us. Thank you very much, guys. What is the best one of five? Five, guys, so please, very five, not the one, right? Okay, thank you very much, guys. I will catch you guys next week. Again, I can't answer all the questions. When the VIP room is up, you can hammer me with questions there and I'll be able to answer them, right? Thank you very much. I'm glad you found today's session great. Stay safe, guys. Trade safe, peace out. I'll catch you guys next week, all right? Bye-bye. Oh, you won't see me next week. You see another of my team member next week, all right? Ideas, bye-bye. Bye, guys. Ideas.