Cryptocurrency Q&A
What is Fibonacci in forex?
What is Fibonacci in forex?
Elena
Tue Nov 05 2024
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6 answers
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I'm interested in understanding the application of Fibonacci in the forex market. Could someone explain what Fibonacci is and how it's relevant in the context of currency trading?
6 answers
Giulia
Thu Nov 07 2024
Fibonacci Retracements are a technical analysis tool used in financial markets.
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EclipseRider
Thu Nov 07 2024
They help traders identify key levels of support and resistance in price movements.
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CryptoAce
Wed Nov 06 2024
The Fibonacci sequence is used to determine these levels, which are calculated as percentages of the prior trend.
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DigitalDragonfly
Wed Nov 06 2024
Fibonacci retracements are often applied after a significant market move, either up or down.
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KpopStarletShineBrightnessStarlight
Wed Nov 06 2024
Once the market has flattened out at a certain price level, Fibonacci levels can be calculated to predict potential areas of support and resistance.
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