Fibonacci Forex
Fibonacci numbers really work in forex trading because they reflect the psychology of the traders. trading forex or stocks is all about knowing the psychology of the traders: when most traders sell, the price goes down and when fibonacci forex they buy, the price goes up. Learn how using fibonacci incorrectly can have disastrous consequences. find out which common moves to avoid. Learn how to trade forex using fibonacci concepts. traders use the fibonacci extension levels as profit taking levels.. again, since so many traders are watching these levels to place buy and sell orders to take profits, this tool tends to work more often than not due to self-fulfilling expectations. If you had some orders either at the 38. 2% or 50. 0% levels, you would’ve made some mad pips on that trade. in these two examples, we see that price found some temporary forex support or resistance at fibonacci retracement levels.. because of all the people who use the fibonacci tool, those levels become self-ful...