akbr (akbr)

Hi everyone 🤠

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What Do Fibonacci Retracement Levels Tell You? Fibonacci retracements can be used to place entry orders, determine stop-loss levels, or set price targets. For example, a trader may see a stock moving higher. After a move up, it retraces to the 61.8% level.

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How is Fibonacci relevant to financial markets? The Fibonacci sequence is relevant to financial markets because it is used to identify potential levels of support and resistance for a financial asset’s price. The sequence is derived from adding the previous two numbers to get the next number, starting from 0 and 1.

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KEY TAKEAWAYS Fibonacci retracement levels connect any two points that the trader views as relevant, typically a high point and a low point. The percentage levels provided are areas where the price could stall or reverse.

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Ena

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The Formula for Fibonacci Retracement Levels Fibonacci retracement levels do not have formulas. When these indicators are applied to a chart, the user chooses two points. Once those two points are chosen, the lines are drawn at percentages of that move.

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