Fibonacci Summary
Fibonacci Summary
There are 2 types of Fibonacci:
Fibonacci extension:the
levels of Fibonacci extension will be 0, 0.382, 0.618, 1.000, 1.382,
1.618.many Traders can use the Fibonacci extension as profit taking
level and when they watch the same levels ,they can buy or sell to
enter the trade or cancel it,so this will become a due self-fulfilling
execptation .
And the levels of Fibonacci retracement
will be 0..236, 0.382, 0.500, 0.618, 0.764.a lot of traders use the
Fibonacci retracement as support levels and when they watch the same
levels,they can place buy and sell to enter the trade or cancel it so
the support level becomes a self-fulfilling expectation .
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