FIBONACCI EXTENSION TOOL (For Beginners) - Easily Find Profit Targets For Your Trades

In this video, I'll show you exactly how to use the Fibonacci Extension Tool to easily find profit targets for each of your trades. Whether you're a complete beginner, or an advanced trader, this tool can benefit you.

We'll start off with a quick set-up of this tool (on TradingView) to make it clean on your chart, and work best for finding significant levels.

I'll then dive into the two different ways you can use this tool on your chart. The first one will be to find take-profit targets when you've entered into a trade, and the second will be to find wave relationships when using Elliott Wave Theory.

The examples shown in this tutorial will include real data on charts such as the USDCHF (U.S. Dollar / Swiss Franc), and APPL (Apple Inc).

Start using the fibonacci extension tool now, and stop guessing as to where you should exit a trade. This tool is extremely valuable to know, so take some notes on how to use it, and start using it in your trading every day.
// TIMESTAMPS
Introduction: 00:00

Set-up The Fibonacci Extension Tool: 0:34

Finding Support / Resistance Zones on USDCHF: 4:40

How to Use The Fibonacci Extension Tool in Elliott Wave: 8:25

Example Using This Tool with Elliot Wave on APPL: 10:30
// WHAT TO WATCH NEXT

TradingView 101:
https://www.youtube.com/watch?v=qVwRUL0I_SY

Elliot Wave Tutorial - Part 1:
https://www.youtube.com/watch?v=pdNjOKSbVnU

Fibonacci Retracement Tutorial:
https://youtu.be/xHiqgY85GuU

My Morning Routine as a Day Trader:
https://youtu.be/emb_FfEp3p0

How To Start Day Trading:
https://youtu.be/Y8kD1krkO1M
// SIGN UP

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// LEARNING MATERIALS

My Free Trading Journal (Just make a copy!): https://docs.google.com/spreadsheets/d/1XSMUzOIU5Q_SHAmf-1fmK1nzYPE3lseOW2OKGuQQXSQ/edit?usp=sharing

The Best Elliot Wave Cheat Sheet: https://amzn.to/3caeCX6

Trading In The Zone (Mark Douglass) - One of the best trading books in existence: https://amzn.to/2wxhJsU
// SOCIAL

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// MUSIC
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Видео FIBONACCI EXTENSION TOOL (For Beginners) - Easily Find Profit Targets For Your Trades канала Trading Tutor