TECHNICAL ANALYSIS MODULE

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Fibonacci Retracements

Fibonacci Retracements are certain ratios for Price movement that may signal a potential reversal in price action. After a certain move has happened, charts can be traced to certain levels to forecast the extent of a correction. The popular ratios are 61.8%, 38.2% and 23%. When Fibonacci is combined with other technical indicators pointing to a certain correction, it gets more validation.

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