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Strategies & Market Trends : Fibonacci Dynamics
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To: sammy™ -_- who wrote (113)3/10/2007 11:54:33 PM
From: sammy™ -_-Read Replies (1) of 330
 
7
Fibonacci Fan Lines are displayed by first drawing a trendline between two extreme points, a high and low. An invisible vertical line is drawn through the second extreme point. Three lines are then drawn from the first extreme point (the leftmost point) passing through the invisible vertical line with their slopes at the Fibonacci levels, usually 38.2%, 50.0% and 61.8%. These lines indicate areas of support and resistance.
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