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4.8 Fibonacci Time

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Adept Level

As with many things in life, timing is everything. The same applies with trading, hence why we always wait for the setup to come to us.
In trading, we respect the timing of our setups, because it adds to our risk management as well as taking profits.
For example, in an uptrend, many traders will panic buy at the top of a swing, set a tight stop loss, only for the market to retrace 10% before continuing up.
Even though they were correct about the trend and the continuation, they were off with their timing and thus they got stopped out at a loss.
Fibonacci Time Zones are produced using the Trend-Based Fib Time tool on Tradingview, this tool can be used to determine if and when a correction/impulsive move may end.