Fibonacci Retracement in Day Trading

Authors: Pawar Sushantkumar, Nikhil Bhoite

Country: India

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Abstract: Stock market prediction is used to assure entry and exit of the investor by predicting the future of current market trend. Traders often use the Fibonacci numbers for technical analysis. Historically, stock prices tend to obey the Fibonacci retracements as levels of support and resistance.

This study aims to test the validity of using Fibonacci as a technical analysis tool in intraday trading and optimise the Fibonacci trading strategy by combining the strategy with other indicators. The results of this study shows that trading using Fibonacci retracements leads to profitable results, but in case of non-profitable results likely to get minor stop-loss points.

Keywords: Fibonacci Retracement, Trend in stock market, Intraday/Day trading, Range-Bound,

Paper Id: 1141

Published On: 2021-07-25

Published In: Volume 9, Issue 4, July-August 2021

Cite This: Fibonacci Retracement in Day Trading - Pawar Sushantkumar, Nikhil Bhoite - IJIRMPS Volume 9, Issue 4, July-August 2021.

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