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RE: Trading using Fibonacci Retracement Levels
Dear @sahmie,
It is great reading through your article once more.
You have clearly explained what Fibonacci retracememt is and how the percentage ratios are derived.
You have also clearly shown using charts of 3 crypto pairs to illustrate it's usage during an uptrend and a downtrend.
Those 3 key levels are specific levels to watch since crossing those ratios can actually mean in total reversal of trend especially in higher time frames.
Thank you for the insightful writeup.
Wishing you the best in this contest.
Greetings Ma,
Thanks for reading my article and finding it helpful. I'm glad I could explain Fibonacci retracement and how the percentage ratios are calculated in a clear way. It's great that the charts of the crypto pairs helped illustrate its usage during uptrends and downtrends. Those key levels are definitely important to watch, as crossing those ratios can signal a complete reversal of the trend, especially in higher time frames. I appreciate your kind words and good wishes for the contest. Best of luck to you too.