The best trading steps using the basic fibonacci retracement

@ Yogi:
- Wait for confirmed prices first, either with price action or indicators, or both. The indicator doesn't have to be an oscillator, but can be another type of indicator.
- With a limit order: the price is not necessarily bouncing (rebounding), it could also continue in the direction of the retracement trend. Using a limit order (buy limit or sell limit) means it's a gamble.
- Momentum entry is not too late if your observation is precise at the Fibonacci retracement levels (23.6%, 38.2%, 50%, 61.8% and 76.4%), by paying attention to the price action that occurs and confirmation from the indicator.
Here are examples of continuation of the retracement direction (EUR/USD H1) and bouncing (USD/CAD H1) at the 50% Fibonacci retracement level:



The signal for continuation of the retracement direction appears from the evening star formation and pin bar to the 2nd, and is confirmed by the MACD indicator curve moving below the signal curve (red color), and the OSMA histogram line being below the 0.0 level.



The bouncing signal appears from the pin bar formation and the curve of the %K stochastic indicator crossing the %D curve from below, and also the stochastic curve is in the oversold area.