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Wednesday, February 13, 2019 9:54:07 AM
It provides a great entrance for new and long-term visionary investors. It is only temporary and necessary. Nothing to be alarmed about.
Fibonacci retracements are the most widely used of all the Fibonacci trading tools. This is partially due to their relative simplicity and partially due to their applicability to almost any trading instrument. They can be used to identify and confirm support and resistance levels, place stop-loss orders or target prices, and even act as a primary mechanism in a countertrend trading strategy.
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