| Look into the future price of virtually any ticker using Fibonacci levels. You’ll be amazed how close price tends to follow these levels. Institutions use these levels to make predictions about price … why don’t you?
These two sayings have forever changed my life:
- Price always want to travel to the next level of support or resistance
- Price will slow or pause around levels of support and resistance
I’ve used these two principles to make thousands of dollars trading options. Knowing these levels is almost like being able to see into the future!
So, in this article for Option Traders, I will talk about:
- Why Fibonacci Matters and How To Identify These Levels
- Other Ways to Determine Support and Resistance: IV, Previous H/L, Order Flow, Dark Pools
- Example with SPY
NOTE: DO NOT TAKE ANY OF THE TRADES DISCUSSED IN THIS BLOG ARTICLE — YOU ARE TOO LATE. THESE ARE EXAMPLES ONLY!!!
Author’s Disclaimer: This is not trade or financial advice. This information is being presented for entertainment purposes and represents the OPINION of the author. All trading and investing, whether real estate, stocks, or crypto, involves the risk of loss, sometimes greater than 100% loss. Do not trade or invest with funds you are not willing to lose. Please do your own research and verify information for yourself. We recommend paper trading to practice trading principles. Any reference to an investment’s past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.
Why Fibonacci Matters and How To Identify These Levels
I’m going to show you a few charts, with the Fibonacci levels marked on it, and I’d like you to look from the point it was drawn on, and just see how many candles touch these levels … it is remarkable how future price seem to “respect” these levels:
Apple — this first chart, I’ve circled where the price pauses or closes at or near the Fibonacci level, but the rest of the charts…