Hello friend.. greetings!!

I sincerely commend the aay you took time and effort in explaining the concept of the Fibonacci retracements. It was a job well done and I appreciate you for this masterpiece of quality content...

The Fibonacci retracements I indeed no magic. It is simply a tool that's been utilized by traders in the trading market to mske entry and exit decisions. It's just one of the instruments used by stock market participants to predict potential future stock price movements.... It is a very good tool with been listed among the best indicators. One thing is to know what the Fibonacci retracements is all about, another thing is to understand how to use it, when and how. Knowing the main purpose of this tool is essential for good and satisfied results. But when this tool is been used with other relevant indicators , we are bound to have a more accurate result and possibly enhance our analysis..
Very rightly Said, certain percentage of the Fibonacci retracements is been traced to the root of the mathematical series of Fibonacci sequence and where they are derived from....

Using the STEEM/USDT chart, you made good description of how the Fibonacci retracements actually works..

As a tool, It must have disadvantages since there are advantages to it. You listed the right ones..

Thanks for sharing and good luck with the challenge.....