Using Fibonacci 161.8 Extension for Binary Options

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A quick 4+ minute video on how to use the 161.8% Extension level of your Fibonacci indicator for practical use in trading the shorter periods of binary options. This gentleman is explaining how to interpret 161.8% Fibonacci extension levels with your volume indicator to predict the likelihood of where the market may be going in the shorter 1min, 3min, 5 min, etc., periods more common to binary options trading rather than the longer weeks/months periods of traditional trading.  As always, you should be using multiple indicators to confirm any potential movements in the market before ever buying into any position.

While you’re at it, take a look at this  this Free Fibonacci Retracement Calculator that we’ve added in our Useful Trading Tools category.  It includes the 161.8% extension.
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Thanks for watching and happy trading!

 

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