My Dear Binance Follower

We are going to describe Market pattern

Today we describe Fibonacci retracements

Fibonacci retracements: It is a tool that

displays horizontal lines based on the Fibonacci

numbers. These lines can then be used as key support and resistance levels. To use the

Fibonacci retracement tool, you first start by

identifying a swing low and swing high on a

chart, then drag the tool from the swing low

to the swing high. Next, wait for the price to

make a pull back to one of these levels,

ideally the 0.382 Fibonacci level, because

that’s the most common level where price

tends to reverse. If the price touches that

level, that could be a good buy entry. Keep

in mind that price could also reverse from

other Fibonacci levels. Combine it with other

confirmation signals to get a better entry.

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