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Fibonacci Extension
April 13, 2020
Fibonacci Retracement
April 13, 2020

Fibonacci Fan

Published by TradersColo at April 13, 2020
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    Fibonacci fans are sets of fanlike trendlines. The three Fibonacci fans project into the future with slopes at 38.2, 50 and 61.8% (additional levels are also available). To reach retracement levels, the trader divides the low-end and high-end price difference by ratios determined by the Fibonacci series, typically 23.6 percent, 38.2 percent, 50 percent, and 61.8 percent. When daily prices exceed these fan trendlines, we can evaluate whether there is price resistance or support at these intersections, and make predictions about future price movements on the market based on it. If prices remain at the fan line, there is support there. If the price quickly exceeds the fan line, you wo n’t see support until the next fan line.

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