March 20, 2018
Forecasting Price Targets with Fibonacci Drawings
Most people involved in the financial markets have probably heard of Fibonacci retracements, or at least the general term Fibonaccis. But Fibonaccis can be a lot like modern art, Bitcoin, or CrossFit; it sounds cool but they don’t necessarily understand it. I mean try saying it out loud – fih-boh-nah-chee – see? Fun.
Others may have even drawn a few on their charts to help identify upcoming support but still don’t quite know how to read it. We’ll take a look at how it’s done and why it works, but we’ll also take it a step further and use multiple drawings on the same chart to increase the probabilities of finding the right levels.
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