A key question that comes up for traders is the use of Fibonacci retracements in our trading. While these retracements make a lot of sense since they represent 'Buy on dips' or 'Sell on rallies', how do you actually use them.
Now, this Free, educational video discusses Fibonacci Retracements.
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The U.S. markets gave up all intra day gains and actually filled the opening gap. There is a low risk, high reward trade setting up in the Indian markets. With 5400 as resistance, we have a fair probability that the Nifty will begin a move on the downside. Traders may take a short position, with a stop above 5400 or slightly higher.