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Asked by Robin Last Modified
Answer Fibonacci retracement," is a technical analysis tool where traders identify potential support and resistance levels on a chart by dividing the price distance between two extreme points (like a swing high and low) using key Fibonacci ratios like 23.6%, 38.2%, 50%, and 61.8%, with the idea that prices may tend to bounce off these levels before continuing the trend in the original direction; essentially, it helps traders predict where a price might pause or reverse during a trend based on these calculated Fibonacci levels.
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