#ALGO: WHY DO WE USE HARMONICS AND FIBO AT THE SAME TIME?

If you're here to learn the basics of harmonics and Fibonacci sequence, then, you're in the right place.

Here's why.

We've used these 2 trading indicators hand in hand, as well as our identification of the previous resistances that were made as a newly established support and as well as the next resistance of ALGO. The reason being, is by the fact that we've to identify the possible retracements key levels of ALGO right after it has already broken through its previous minor resistance. As its highly probable that this token will be able to reach even higher than the previous price it had. Taking into consideration that this token has already created a long impulsive wave for its decline, making it most probable that this will be fulfilled as imbalances are present in the market. As Fibonacci identifies the possible retracements, the combination of harmonics will help in identifying the reversal points at the end of the harmonic pattern. Most of the time, we use this in a manner where we anticipate a possible harmonic pattern forming to coincide with the Fibonacci sequence and there are times when we identify the reversal points to better prepare the possible next price action.

Stay wise, trade cautiously.