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~~FIBONACCI LESSON~~
Basic,simple & clean;
Fibonacci Retracement is use to determine support after a run or resistance after a dive. POINT 1 will be the lowest low IN AN UPTREND CHART OR HIGHEST HIGH IN A DECLINE chart.Point 2 will be highest high IN AN UPTREND CHART OR LOWEST LOW in downtrend chart.See examples below:
RULES TO FOLLOW:
1. if reversal starts at 38% FIB previous high will be broken
2. if reversal starts at 50% FIB previous high will be broken or pass 38%
3.if reversal starts at 61% FIB will go to 50%-38% FIB
4.below 61% FIB will go to 50% FIB
Basic,simple & clean;
Fibonacci Retracement is use to determine support after a run or resistance after a dive. POINT 1 will be the lowest low IN AN UPTREND CHART OR HIGHEST HIGH IN A DECLINE chart.Point 2 will be highest high IN AN UPTREND CHART OR LOWEST LOW in downtrend chart.See examples below:
RULES TO FOLLOW:
1. if reversal starts at 38% FIB previous high will be broken
2. if reversal starts at 50% FIB previous high will be broken or pass 38%
3.if reversal starts at 61% FIB will go to 50%-38% FIB
4.below 61% FIB will go to 50% FIB
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