Cryptocurrency Q&A
Which timeframe is best for Fibonacci retracement?
Which timeframe is best for Fibonacci retracement?
TaegeukChampionCourage
Thu Nov 07 2024
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6 answers
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I'm trying to figure out the optimal timeframe for using Fibonacci retracement. Should I apply it to short-term charts, like daily or hourly, or would it be more effective on longer-term charts, such as weekly or monthly?
6 answers
Lorenzo
Sat Nov 09 2024
The concept of the best timeframe for Fibonacci retracements is subjective.
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MysticInfinity
Sat Nov 09 2024
It varies depending on the trading strategy employed by individual traders.
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SumoPower
Sat Nov 09 2024
For day traders, shorter timeframes are generally preferred.
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Andrea
Sat Nov 09 2024
Charts with intervals of 15 minutes or one hour are commonly used by this group.
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GeishaCharming
Fri Nov 08 2024
Swing traders and long-term investors have different preferences.
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