Talking Points: Fibonacci Retracement tracks the pullback after an extended moveTraders eye 38.2%, 50%, and 61.8% retracements as possible reversal levelsFibonacci’s ‘magic’ comes from its self-fulfilling nature Where to Draw the Fibonacci Retracement? Where exactly is that? For starters, we need to identify an extended move up or down on our chart. In other words, a swing low followed by a defined high or a swing high followed by a defined low. Below, ...
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