Trading Forex With Fibonacci Numbers: Nature's Solution To Trading The Markets!
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If you will has moved down say 70 pips and then retraces regular say that the strongest Fibonacci point of resistance set in 23.6% and in case the fees are going to be able to and reverse back on the original direction after the correction. After we break the 23.6%, then your 38.2% could be the next strongest resistance level then the 50%. As we hit the 23.6% resistance line along with the price "bounces" back downwards, we begin thinking about whether this is just a correction - a Fibonacci retracement.
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