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How to Trade Fibonacci Retracements: Finding High-Probability Levels

Channel: Verified Investing YouTube

Watch on YouTube · 2026-08-09

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**Summary:** - **Stock Tickers & Price Levels:** - Nvidia (NVDA): Resistance at $226.50 (786 fib level) and $231 (886 fib level). Double top resistance around $240. - Micron (MU): Resistance at $1,000 (0.5 fib level), $990 (gap fill), and $1,000 (psychological level). - SpaceX (SPCE): Resistance at $150 (psychological level), $152 (382 fib level), and $155 (gap fill). - Nvidia (NVDA): Resistance range $230-$231 (786 and 886 fib levels), with additional factors at $230 (psychological level) and previous consolidation. - **Key Trading Strategy:** Fibonacci retrace and extension levels to identify support/resistance zones for potential trades. - **Indicators Used:** Fibonacci retrace and extension levels, gap fills, psychological levels, and previous price action consolidation. - **Entry/Exit Rules & Suggested Trades:** - NVDA: Potential long trade after retrace from $240, with stop-loss below recent lows. - MU: Potential long trade at $1,000 with stop-loss below recent lows. - SPCE: Potential long trade around $150-$152 with stop-loss below recent lows. - NVDA: Potential short trade around $230-$231 with stop-loss above recent highs. - **Timeframes Mentioned:** Daily chart timeframe for all trades. - **Risk Management Tips:** - Use stop-loss orders to manage risk. - Be prepared for fib levels to act as zones rather than exact price levels. - Consider multiple factors (fib levels, gap fills, psychological levels) for stronger setups.
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