Utilizing Fibonacci Retracement for Market Analysis
In my daily time frame analysis, I employ Fibonacci retracement due to its accuracy and reduced market noise. Historically, Fibonacci levels have demonstrated significant respect in price movements. Notably, a level that once acted as support transitioned into resistance before being breached upwards. Currently, the market is honoring this area, indicating a potential continuation of the bullish trend.
Upon confirmation on this time frame, I will proceed with entering a position, confident in the reliability of this technical indicator and its historical performance.
Upon confirmation on this time frame, I will proceed with entering a position, confident in the reliability of this technical indicator and its historical performance.
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