Fibonacci zones and pullbacks
Pullbacks occur in all markets.
The Fibonacci retracement tool gives you the ability to measure pullbacks and gives you levels of support and resistance.
Using specific ratios - you can anticipate rejections at certain price levels.
With practice you can make a judgement using your experience and intuition of where price will reject.
Fibonacci levels are zones so price can react to the zone around the fib level.
The Fibonacci retracement tool gives you the ability to measure pullbacks and gives you levels of support and resistance.
Using specific ratios - you can anticipate rejections at certain price levels.
With practice you can make a judgement using your experience and intuition of where price will reject.
Fibonacci levels are zones so price can react to the zone around the fib level.
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