Fibonacci Level Scan Examples
Following are some examples of Fibonacci Level scans with different time periods. We have mostly presented examples showing turning points at 1.618 and 2.618 extensions, because we believe these are the most reliable Fibonacci trades. Note that the Fibonacci levels are determined days or weeks in advance of the actual move. It is rarely possible to predict whether a security will turn at the 1.618 or 2.618 level, but it is prudent to tighten your stops around these points. Furthermore, they are also high-probability trade entry positions, either long or short.
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