Courtesy of Corey Rosenbloom at Afraid to Trade
Adam Hewison Discusses Uses for the Fibonacci Tools
Adam Hewison, President of the Market Club, released an education video this morning on how to use Fibonacci. Ambitiously titled “All about Fibonacci” (though I prefer to title it “The Fibonacci Rule and Trends).” Adam gives a little background on Fibonacci Retracements and how to apply them on the charts.
(clicking the chart opens the video page window at Market Club)
In an introduction to the video, Adam writes (copied with permission):
“The mathematical findings by this thirteenth century Italian man has yielded a useful technical analysis tool which is used in technical analysis and by scientists in a large array of fields.”
“I use the Fibonacci series mainly for retracements (see today’s video) and to show me where support and resistance might come into the market. I also use this tool to enter or add onto a position. In my new video, I show you these exact retracements and how they affected the market at that time.”
While I believe Fibonacci tools are very important, I like to find specific Fibonacci Confluence Zones which I deem to be more influenctial than single Fibonacci retracements.
In this video, Adam shares the basics of the Fibonacci retracement tool and then also lets you hear a sample of the new “Talking Charts” feature with the upgraded Market Club charts for members.
As always, thank you to Adam and staff for sharing these educational videos.
