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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.