One of the most famous and popular forex trading strategies is Fibonacci, named after the famous Italian mathematician. Considered as a medium-long term trading strategy, we use it to follow repeating support and resistance levels. History shows that the market moves in waves and Fibonacci takes advantage of this fact. Fibonacci ratios can help us identify potential resistance and support levels on the financial charts. The most common ratios are 61.8%, 50% and 31.8%.
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