Other Bets Props and Futures Some other fun bets that can be made on basketball include prop bets and futures. How To Bet News. Handicapping Your Basketball Bets When oddsmakers set the lines, they take many factors into consideration. If you have even one loss, you lose the entire bet. On the other hand the Magic must either win outright or lose by 3 or fewer points for a Magic spread bet to payout.
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Related Posts. Yet, before that occurs, the asset's price normally retraces to one of the above-mentioned ratios. How to Use Fibonnaci Retracement? The Fibonacci sequence is a set of numbers that includes a certain pattern like, 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, , etc.
Every number in this sequence is the sum of its previous two numbers and every number is 1. The Fibonacci ratios are calculated simply by dividing the numbers in the Fibonacci sequence. For example, the ratio of The same goes for every other Fibonacci ratio as well. Fibonacci ratios identify the price momentum of an asset in the financial markets.
Technical traders use them to draw support lines, visualize resistance levels, safeguard their capital by putting stop-losses at key Fib levels and set take-profit targets. How to Draw Fibonacci Retracement? Most traders use Fibonacci retracements on a 1D chart to identify the long-term trend of an asset.
Another important thing that Fibonacci retracements tell a trader is to include resistance levels, support lines, stop-loss targets, and entry levels. In the chart above, you can see that the Fibonacci retracement is drawn from the lowest point on the 1-day chart of Bitcoin BTC to its highest point. The Fibonacci ratios can be seen on the left-hand side along with support lines.
Luckily for traders, Fibonacci retracements are far more than just a nifty word. In fact, it's the name of a tool used to predict potential support and resistance levels for price action. First, let's define what this so-called "Fibonacci" is so you have a better idea as to why it is a concept relevant to trading cryptocurrencies.
Leonardo of Pisa A. Fibonacci was an 11th-century mathematician responsible for introducing a unique sequence of numbers to the West, now known as the "Fibonacci Sequence. Clever, right? Not only that, but each number is roughly 1. This creates a value known as the "golden ratio," or "phi" and has a fascinating relationship with nearly everything in nature.
Take flowers , for example, the lily is arranged with three petals, buttercups with five, the chicory with 21, daisies with 34 and so on. Interestingly, the numbers abide by the Fibonacci sequence and each petal is even placed at 0. Examples of the Fibonacci sequence in nature are seemingly endless and this expands to trading when it comes to analyzing price action. Specifically, a trader can derive levels in a trend that price is likely to respect by dividing a peak to trough or trough to peak distance by the golden ratio and other ratios in the sequence.
Other important ratios include 0. As you'll come to notice, price reacts to these levels on a regular basis, which can provide a trader with optimal entry and exit points, just like it provides a flower with the optimal structure to absorb sunlight. Finding Support Levels Before using the Fibonacci tool to identify potential support or resistance levels, a trader must first be able to identify a "swing high" and "swing low.
Conversely, a swing low is the low candlestick stick of a trend with a higher low on each side. Once these points are identified, select the Fibonacci retracement tool in your trading software to connect a swing low to a swing high. Potential support levels will be generated, known as retracements. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally — to future generations.
My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets.
It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of.