Business
How To Apply Fibonacci Retracements In Foreign Exchange Trading

Fibonacci retracements are a technical analysis tool traders use to help identify market reversals. The theory behind Fibonacci retracements is that after a market moves in a particular direction, it will retrace or reverse by a certain percentage. These percentages are gained from the Fibonacci sequence, a series of numbers where each successive number is the total of the previous two numbers.
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The most common Fibonacci levels
The most common Fibonacci levels used in trading are 23.6%, 38.2%, 50%, 61.8% and 100%. However, traders may also use other levels, such as 78.6% and 161.8%.
Identify the market’s most recent high and low
When applying Fibonacci retracements to a chart, traders will first identify the market’s most recent high and low. They will then use a Fibonacci calculator or charting software to plot the levels.
Look for trading opportunities at or near these levels
Once the Fibonacci levels are plotted, traders can look for trading opportunities at or near these levels. For instance, they might buy near a support level or sell near a resistance level.
Apply Fibonacci retracements to any time frame
Some traders also use Fibonacci extensions derived from the same sequence of numbers. These levels project how far the market might move after a reversal. Fibonacci retracements can be applied to any time frame, although UK traders commonly use them on longer-term charts like daily or weekly charts.
The benefits of using Fibonacci retracements in forex
Fibonacci retracements offer several benefits to traders, including the following:
- They can help you decide when to enter and exit trades.
- They can help you identify market reversals.
- They can help you find potential support and resistance levels.
What are the risks of using Fibonacci retracements in forex trading?
While Fibonacci retracements can be helpful, there are also a few risks to be aware of:
- Fibonacci levels are not exact, and the market may move past them without reversing.
- The market may reverse at a not a Fibonacci level.
- Traders can interpret Fibonacci levels differently, so two traders may see different things when looking at the same chart.
Despite these risks, some traders find that Fibonacci retracements can be a valuable tool in their trading arsenal. If you’re considering using them in your trading, test them on a Saxo Bank demo account first.
Why UK traders use technical tools when trading forex
Technical analysis studies past price patterns to try and identify future market behaviour. Many UK forex traders use technical analysis as part of their trading strategy, as it can be a helpful way to identify trading opportunities.
How do you apply Fibonacci retracements to forex trading?
When applying Fibonacci retracements to a chart, traders will first identify the market’s most recent high and low. They will then use a Fibonacci calculator or charting software to plot the levels. Once the Fibonacci levels are plotted, traders can look for trading opportunities at or near these levels.
What are other technical tools used in forex trading?
Other technical tools that are used in forex trading include:
- Moving averages
- Bollinger bands
- Parabolic SAR
- MACD
- RSI
- Stochastic Oscillator
- ATR
- Pivot points
These technical tools can be used alone or in combination with others to help traders decide when to buy and sell currencies. Moving averages, for instance, are a trend-following indicator that can help you identify whether a currency is trending up or down. On the other hand, Bollinger bands are a volatility indicator that can help you determine whether a currency is overbought or oversold.
Final word
Fibonacci retracements can be a helpful tool; remember that they are just one of many technical indicators available to traders. As with any indicator, traders should use Fibonacci retracements in conjunction with other technical and fundamental analysis tools. Novice traders should also practice using Fibonacci retracements on a demo account before trying them on a live account.
Business
Building Contracts: They’re Changing & You Need To Know

It has never been more imperative to have a building lawyer read your contract. The pandemic created a shift in construction agreements that can be problematic for owner-builders if not properly assessed. One such change is in the special conditions placed upon agreements. There is no longer such a thing as a “typical agreement”, especially in regards to irregular price increases.
Some changes can be obvious to the owner, where others can be a little cheekier, hidden amongst “special conditions” provided with additional documentation. They typically contain jargon that lulls the owner into agreeing without really knowing what it means.
Special conditions have also changed and are now rampant in proposed agreements. This means that standard builds often contain conditions that dramatically increase the cost to build.
This is something that industry novices may not be aware of. Sure, you may see such pricing and think, “hmmm, seems a little excessive”. But would you take it further without the proper advice telling you that it’s not just excessive – it’s a flagrant rip off?
Here are some of the sneaky changes that have occurred and why you need the best building contract lawyers in your corner:
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What are some of these nefarious changes?
Building lawyers across the country are being shocked by some of the unscrupulous changes in construction agreements.
These include:
- Agreement value & hidden extra fees
- The agreements scope & time limits
- Extensive power to slow down work
- Random cost increases
- Charges for additional questions & variations
- Charges for delays when a site inspector visits
These sound ridiculous, don’t they? That’s because they are, and you should never agree to something like that just because they are in your proposed agreement.
How are “special conditions” being used against owners?
“Special conditions” are being used to unscrupulously wrangle owners into paying more than they should. There are many examples of special conditions, ranging from price increases when a build isn’t completed on time to extra charges for materials. Understanding these clauses is crucial to avoiding unexpected costs and ensuring fair agreements. Stay informed about consumer rights and industry practices by visiting Wheonnews for expert insights and updates.
One common sneaky move is the builder requesting extra money for speeding up the build. Sure, this may seem great (“we just have to pay a couple of thousand more for them to complete it by June!). But if they are charging you extra to complete it by June then they probably can complete it by June without the extra money.
It brings up a lot of legal issues and you should have a reputable building lawyer analyse these stipulations. This is because under fixed-price building contracts you don’t have to pay additional amounts of progress payments. You are legally protected from being charged such absurd fees.
What’s more, if something occurs outside of your agreement, then it should always be agreed upon in writing. These fees can amount to thousands of dollars, and you don’t want to pay any such fees without them being agreed upon in writing. You don’t want your already-sneaky builder thinking they can take further advantage of you. Therefore, you shouldn’t agree to make any payments that fall outside of your contract.
So, if you have any confusion regarding any perceived cheeky moves in your agreement, you should always contact a legal representative. They can analyse the agreement for any nefarious “special conditions” and whether they are legally sound. It is, of course, highly likely that they are not, so it is important that you have the experts in your corner to avoid paying any ridiculous unwanted fees.
Business
Optimised Awareness: 5 Benefits Of Online Asbestos Training

Asbestos. It’s that horrid substance that strikes fear in the hearts of many Australians. It lives in the ceilings, floors and walls of many homes and businesses built before the late-1980s. And, when agitated, it permeates the air and, unfortunately, into our bloodstreams. This can cause a range of grave health problems, including asbestosis, lung cancer and mesothelioma, just to name a few. It’s for this reason Australia has become a world leader in mitigating the risks associated with this awful, unwanted substance.
We take asbestos awareness seriously in this country because we know just how deadly it can be for our citizens. From thorough home and business analysis to remediation methods and more, there is an entire industry here dedicated to ensuring the substance doesn’t cause any more fatalities. This industry includes world class online training.
These digital modules are designed to teach students about how to identify and protect themselves from this deadly substance. And, like any health and safety training system, there are numerous benefits to undertaking this asbestos awareness training online.
Let’s take a look at a few below:
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Train in your own time
You may be required to complete this program to comply with Aussie health and safety practices. However, you already have a full-time job, and it can be difficult for you to get away from it to complete in-person modules. Thankfully, online training exists to provide the flexibility you need to continue your job whilst optimising your knowledge of this harmful substance. You can work at your own pace and in the hours that are most suitable for you. This is simply perfect for Aussies who work in industries that require certification but don’t have the time in regular work hours to study.
You can save on digital classes
Digital classes are typically much cheaper than their in-person counterpart. You will be able to save money on classes that would otherwise cost a lot more than if you had to travel all the way out to a specific location to make the class. What’s more, the fact that you can do these classes online in your own time means that you won’t have to take any time off work which could affect your income.
Perfect for individuals & larger teams
You may run a team of tradies that have to be aware to ensure they don’t start knocking out walls that contain the deadly substance. But how on Earth are you supposed to send them all out to a training facility at the same time? This could easily impede on your team’s ability to get the job at hand done within your designated time frame. Instead, why not ensure that they can all undertake this essential study by enlisting them in a digital course?
Ensure team compliance
Being aware of this harmful mineral is an essential part of compliance for various Aussie industries. Unfortunately, thousands of buildings built before the late-1980s still contain the mineral, and this means that thousands of Aussie workers have to be aware of its presence when undertaking a new job. As such, these digital modules will ensure heightened knowledge and, in-turn, compliance with Australian health and safety regulations.
Increase your knowledge, obviously!
And this is obviously the main reason for a digital course. Because, after all, you can’t just go knocking out walls with the risk of asbestos permeating through the job site – this could be deadly for anyone present. Studying online will ensure a heightened knowledge of the mineral, where to find it and how to protect you and your teammates from its deadly pitfalls!
Business
Unlocking the Power of BPMN Notation for Small Businesses

Business Process Model and Notation (BPMN) is a standardized visual language used to document and diagram business processes in a way that is both easy to understand and efficient to implement. It is the de facto standard for modeling processes within organizations and is widely used to communicate between different stakeholders of an organization.
BPMN provides a set of graphical elements that help visually express a process, making it much easier for people to identify the steps and activities that need to be completed to execute a workflow successfully. Furthermore, BPMN is a common language between departments and organizations, facilitating communication skills and collaboration while minimizing miscommunication.
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Why Is BPMN Important For Small Businesses?
BPMN notation is important for small businesses. It helps them understand the steps to complete tasks more quickly and easily, saving them time and money! BPMN notation also makes it easier for small businesses to communicate processes between departments and even with external partners. It allows them to visualize the process and identify any potential issues before they occur, leading to improved efficiency in operations.
Furthermore, BPMN makes it easy for employees to understand their organizational roles by mapping out tasks, allowing for more effective collaboration and team alignment. Additionally, BPMN helps businesses make the most of their resources by providing a clear view of these tasks and their connection. Small business owners can identify areas to optimize operations or reduce costs.
Different Components Of BPMN Notation
- Pool: A pool represents an organization, a business unit, or a participant in the process
- Lane: A lane can be used to organize activities into different categories within the same pool
- Start Event: This marks the beginning of a process flow
- End Event: This defines when a process has been completed
- Task Activity: These are actions that need to be performed by one or more participants
- Gateway: Gateways are decision points that indicate branches in the workflow based on conditions
- Sequence Flow & Message Flow: Both types of flows represent how activities interact and how information is exchanged between them
- Data Objects / Artifact: These objects store data related to processes and tasks
- Annotation: This is used to provide additional information about the process flow
How To Use BPMN To Streamline Business Processes?
BPMN can help small businesses understand how tasks are connected and what steps must be taken to complete a task. Using BPMN notation can save time and effort when running a small business.
By mapping out processes, small business owners can identify areas for improvement. For example, looking at the process diagram will show where tasks may be redundant or whether steps could be added to streamline the process. BPMN diagrams also allow managers to see bottlenecks and quickly make necessary changes. Additionally, creating BPMN diagrams can help businesses document processes accurately, making it easier to train new employees.
Using BPMN notation for small business processes is a great way to increase efficiency and productivity. It allows owners to visualize their process flows and spot areas for improvement quickly.
Tips On How To Get Started With Using BPMN Notation In Your Own Business
Using BPMN notation in your small business can be a powerful tool for streamlining processes and improving efficiency. To get started, here are a few tips:
- Set clear goals and objectives. Before you begin incorporating BPMN notation into your operations, it is important to determine the goals and objectives of the process you are trying to model. This will help you create a BPMN diagram that accurately reflects the process and leads to the desired outcome.
- Get organized. When creating BPMN diagrams, it is important to be as organized as possible so that all diagram elements are easily identifiable. Label each element with its appropriate name and give all objects unique IDs.
- Use standard BPMN symbols and shapes. To ensure that you are using BPMN notation accurately, it is important to use the correct symbols and shapes in your diagrams. This will help other users easily understand the diagram and ensure everyone is on the same page when discussing processes.
- Test and refine. After creating your BPMN diagrams, testing them to ensure they accurately reflect the process you are trying to model is important. Once tested, make sure to refine your BPMN notation so that it is as accurate and efficient as possible.
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