Extremely simple fibonacci question

TyErwin

Newbie
Messages
2
Likes
0
Hey guys, I'm brand new to the investment world and want to learn as much as possible before jumping into forex.

I'm currently doing the "school" courses at babypips.com and I'm a little confused about Fibonacci retracement because it says that

Swing high = candle with a candle on each side with a lower high
Swing low = candle with a candle on each side with a higher low

But when I watch the video of them charting fibonacci they appear to do it wrong? The page I'm reading can be found here. Did the author of the article make a mistake?

Thanks in advance,
Tyler
 
video looks fine to me

Another problem is determining which Swing Low and Swing High points to start from to create the Fibonacci Retracement Levels. People look at charts differently and so will have their own version of where the Swing High and Swing Low points should be. The point is, there is no one right way to do it, but the bad thing is sometimes it becomes a guessing game.

from the link article
revelant quote is relevant
 
Top