Probably just as important as knowing where to enter or take off profits is knowing where to place your stop loss.

You will have to use your discretion in using the Fibonacci extension tool. You will have to judge how much longer the trend will continue. Later on, we will teach you methods to help you determine the strength of a trend.

If you’ve been paying attention in class, you’d know by now that you can combine the Fibonacci retracement tool with support and resistance levels, and trend lines to create a simple but super awesome trading strategy.

But we ain’t done yet!

After all, Fibonacci retracement levels work best when the market is trending, so this makes a lot of sense!

In the next lesson, we’ll show you how to use the Fibonacci retracement tool in combination with other forms of support and resistance levels, and candlesticks.

While the Fibonacci retracement tool is extremely useful, it shouldn’t be used all by its lonesome self.

We will be using Fibonacci ratios a lot in our trading so you better learn it and love it like your mother’s home cooking.

In this lesson, we will be looking at the basic Japanese candlestick patterns that were discussed in the previous lessons to make sound trading decisions.

What’s better than dual candlestick patterns?
TRIPLE candlestick patterns!