Cryptocurrency Q&A
When to use Fibonacci in trading?
When to use Fibonacci in trading?
Valentina
Mon Nov 11 2024
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7 answers
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I'm interested in understanding the application of Fibonacci in trading. Specifically, I want to know when it's appropriate to utilize Fibonacci sequences, ratios, or other related concepts to assist in making trading decisions.
7 answers
CryptoNinja
Tue Nov 12 2024
Fibonacci analysis is a technique that can be utilized in scenarios where there is a discernible upward or downward movement in prices.
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Valentina
Tue Nov 12 2024
The retracement often occurs at specific Fibonacci levels, which are derived from the ratio of numbers in the Fibonacci sequence.
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CryptoVisionary
Tue Nov 12 2024
These levels serve as potential areas of support or resistance, where the stock price may find it difficult to break through.
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Valentina
Tue Nov 12 2024
This analysis is particularly effective when the movement is significant, indicating a strong trend in the market.
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Dario
Tue Nov 12 2024
When a stock experiences a sharp increase or decrease in price, it often exhibits a tendency to reverse or retrace part of its move before continuing in the original direction.
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