Author Topic: Fibonacci  (Read 333 times)

Inzider

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So much can be said on fibonacci that I'm only going to try to cover the basic in a one post.
Some of you could complete the whole story!

The vision is this one.

When price correct, it wil most of the time return to the 38.2% or 61.8% level of previous move.
When price extend over last high or low, it will most of the time do it at the 1,272% or the 1.618%.




Closer look on the correction:




Closer look on the extension :




Those are the levels I been using for years on the forex market - took from harmonic trading:



Obviously there is A LOT more into the fibonacci levels.
But this cover the basic of it.

If you can map the basic concepts and use the tools correctly, this is the start of a sound strategy.



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