Both use the Fibonacci sequence, which is composed of the Fibonacci numbers 0, 1, 1, 2, 3, 5, 8, 13… to calculate retracement and extension levels. What are the Fibonacci retracement and extension?įibonacci retracement and extension are technical analysis tools that can help you make informed decisions about where prices are relative to a trend and where they might go. By employing these simple tools, you will be able to take advantage of market opportunities no matter how volatile the market is. In this article, you will learn that the secret lies in Fibonacci retracements and extensions. Successful traders tend to be those who are in tune with the market they are trading.
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June 2023
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