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Fibonacci: The Golden Ratio
One of the most important and powerful technical analysis tools ever
How it works in a nutshell
It is used to measure an upward or downward wave
Fibonacci is drawn from the bottom to the top if the trend is upward
And from the top to the bottom if the trend is down
Fibonacci levels are divided into main strength points
They are 0, 0.23, 0.38, 0.50, 0.61, 0.78, 1
And there is an area called the golden ratio or the golden rectangle
It is the area where the correction ends and the trend continues its path upward or downward
This area is between 0.38 and 0.61
These are the points shown in the pictures
Note that
Level 0.38: is the continuation correction level
Level 0.61: is the trend reversal level
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