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RoboForex — Forex Trading for real robots Trading. What causes price to sometimes react around these levels is due to the fact that many people are watching these exact same levels.
Forex fibonacci retracement levels we have a large number of traders all looking at the same levels for a turnaround in price, they could create a cluster of orders that causes price to actually turn around at that level.
We are expecting other traders to be looking at these levels and cause price to react at these levels. The chart above shows the outcome of our example.
Price retraced up to the Traders that forex fibonacci retracement levels the potential bounce off of this level had a very successful trade without having to take on a lot of risk if they used a tight stop. So hopefully this article has unlocked the mystery behind Fibonacci fbonacci showing how to draw this tool on a chart and by teaching why the Fibonacci can, at times, create successful trades.
You are now on your way to joining the Fibonacci club.
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