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they are a set of ratios derived from the fibonacci sequence, which is a mathematical series that's derived from the golden ratio ( ). it's made up of the following pattern which generates a new number by adding the two previous numbers: , , , , , , , , , ad infinitum. the theory was named after a th
for each of these scenarios, fibonacci retracements might come in handy. three critical "fib" levels the five levels below are included in most fib retracements tools. % % % (though not a mathematical fib level, traders still use it) % % the most widely used levels are the middle three (in bold above...
https://www.gffbrokers.com/using-fibonacci-retracements-to-sharpen-your-trading-scope/