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Fibonacci Retracement Explained in Under 5 Minutes

The Fibonacci retracement strategy is a popular technical analysis technique that is based on the idea that prices will tend to retrace a predictable portion of a move, after which they will continue to move in the original direction. The technique is based on the Fibonacci sequence, which is a series of numbers in which each number is the sum of the two preceding ones, usually starting with 0 and 1. The key Fibonacci ratios used in this strategy are 23.6%, 38.2%, 50%, 61.8%, and 100%.

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