We always repeat to all traders, especially beginners
Learn to use the Fibonacci price tool and its extensions. Especially for such a period that goes through corrections for most currencies, in order to know to what level and what price these currencies will fall.
These are the most important correction points (for the upward trend) for the Fibonacci tool:
- (23.6%): It is a weak level. It is often penetrated when the correction begins
🔴 (38.2%): It is a strong major correction level. If the main price movement is strong, the correction will end here with the highest probability, and then the price will return to rise to levels higher than the peak from which the correction began, meaning that the currency will continue to rise strongly, and to excellent levels
⭕ (50%): It is an average level. If the price rebounds from this point, there will be a rise again to average levels
⛔ (61.8%): It is a major level. This level is considered the last point of strength in the main levels that if the currency falls and corrects to rebound at this level, it indicates that the currency will continue to rise to good levels
🔻 (76.4%): It is a relatively weak level. It shows that the currency will not rise again except after a long period of time, and the currency may continue to fall
🔻 (100%): It is the starting point. It is the last level. If the price falls to this level and breaks through it, the currency indicates that it will continue to fall, but it will continue to fall
