Fibonacci retracements find its roots in Fibonacci sequence which is a mathematical series and here each preceding number is the sum of previous two ones I totally agree with you you have explained about it in a very basic way as well as you have explained about some of the most important and most widely used Fibonacci levels

You have explained about advantages and disadvantages of Fibonacci retracement levels and I totally agree with all of them as well as I agree with you that fibonacci retracements are not fallible and markets behave in unpredictable way and if we solely rely upon these levels then it may lead to missing several opportunities which should not be missed.This is you are perfect in your saying

It would be more good if you make partition in your writing like if you write answers of questions in different parts so that it may feel more is here to everyone to ss a particular part of your post and somewhere you were little in your research but over all you presented good efforts with us I wish you good luck in your entry