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Fibonacci is used to trade in all markets. The Fibonacci sequence is a set of numbers that starts with a one or a zero, followed by a one, and proceeds based on the rule that each number (called a Fibonacci number) is equal to the sum of the preceding two numbers.
A Fibonacci retracement is a term used in technical analysis that refers to areas of support or resistance. Fibonacci retracement levels use horizontal lines to indicate where possible support and resistance levels are. … The Fibonacci retracement levels are 23.6%, 38.2%, 61.8% and 78.6%.
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