Cryptocurrency Q&A
How powerful is Fibonacci retracement?
How powerful is Fibonacci retracement?
amelia_harrison_architect
Wed Nov 06 2024
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7 answers
1424
I'm curious about the strength or effectiveness of Fibonacci retracement. I want to understand how powerful this technical analysis tool really is in predicting market movements.
7 answers
Raffaele
Fri Nov 08 2024
In the context of Fibonacci retracement, the 61.8% level is deemed particularly strong.
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Nicola
Fri Nov 08 2024
Traders often pay close attention to this level as it indicates potential price movements.
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Carolina
Fri Nov 08 2024
The golden level of Fibonacci retracement holds a unique significance in technical analysis.
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EclipseRider
Fri Nov 08 2024
When prices reach this retracement level, there is a high probability of a reversal or continuation in the trend.
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SamuraiBrave
Fri Nov 08 2024
It represents the 61.8% level, a figure closely associated with the golden ratio.
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