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3. Pivot levels, resistance and supports.
Fibonacci retracements enable you to predict the scope of price modifications in a trending market. The most commonly used retracements exist at 50%, 38.2% and 61.8%. You can predict that price will correct as far as 38. 2% level during strong trends while it could retract to 61.8% during weaker channels. The 50% level is often utilized as a key level to purchase in up-trends and go SHORT in down-trends.
The above figure illustrates the Fibonacci retracements (blue lines) related to
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