Advanced traders love using Fibonacci Retracement and Fibonacci Extension Levels.

It’s a powerful and actually very easy concept to apply. Let us teach you how.

We used these concepts for Trade Setups for PEPE and FLOKI. See below.

Check out our Video Tutorial and Knowledge Base article on Fibonacci Retracement and Extensions.

1. Fibonacci Retracement Levels act as potential support levels, especially after a significant price rise and subsequent pullback.

It can help with trade entry during a pullback in Uptrend. This is the case for FLOKI.

FLOKI: Fibonacci Retracement Levels

Trade setup: Price is in an Uptrend. Following a bullish breakout from Channel Down, price reached $0.000316 resistance level, where it got overbought (RSI > 75), rejected and pulled back.

That’s also where it got rejected in March.

Price found at $0.000238, which is a 38.20% Fibonacci Retracement level.

Now it could swing back up to $0.000316 for a +30% gain.

2. Fibonacci Extension Levels, on the other hand, help us identify potential price targets after price breaks through an ATH and there’s no prior resistance levels to guide us.

This is the case of PEPE.

PEPE: Fibonacci Extension Levels

Trade setup: Price is in an Uptrend. Following a bullish breakout from Channel Up, price reached resistance at $0.000017, where it got rejected.

Now we look for the right entry opportunity in Uptrend.

We wait for price to either

1) break above $0.000017 to signal continuation of uptrend, or

2) pull back near $0.000013 support for another swing trade entry in Uptrend with +30% upside potential back to $0.000017.

If price breaks above it’s ATH of $0.0000173, the next possible resistance levels (price targets) based on Fibonacci Extensions are: $0.0000184 (61.80%), $0.0000198 (78.60%), $0.0000215 (100%) and $0.0000266 (161.80%).

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