traders are selling, the prices will definitely go down. One of the notable things about Fibs is that they do NOT have a concise point at which one could emphatically say that the markets will do one thing or another. Consider this: 1) How many retail forex or even equities traders actually use Fibs: a) In every trade b) In some of their trades? My personal issue with them is to do with how many there are of them. In most cases, retracement levels will indicate possible support and resistance levels as the rate retraces upwards. While the 50 ratio is often used in Fibonacci analysis, it is not a Fibonacci ratio. All we have to do is take certain numbers from the Fibonacci sequence and follow a pattern of division throughout. This implies that when a Fibonacci level is broken as a resistance, it will act as a support, and will also be retested. So why is this?
The numbers commence with zero, and then 1 after that. Bit long winded - sorry. When trending downwards, each Fibonacci retracement level will identify a potential support level where a trader can start to buy the currency pair. In technical analysis, the numbers are used in such a way that a trader does not need to make any calculations. A trader should les groupes qui ont lance crypto monnaies also know when and where the market reverses or keeps on following a particular direction. The vital aspect in Fibonacci trading is that the levels are in actually the support and resistance lines.
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