Hello,how are you everyone, i am fine alhumduillah by God's grace i am enjoyed to share my "FIBONACCI RETRACEMENTS" beautiful challenge. in this challange we into the supposition of the challenge search the basic of "FIBONACCI RETRACEMENTS" questions their use in the Cryptocurrency trade, so i discuss the Advantage and Disadvantages asociated with this important measure.

In your own words, what are Fibonacci Retracements and what are they used for?

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"FIBONACCI RETRACEMENTS" are a applied study implement situate on the "FIBONACCI " section a wave of amount Where Each amount is the quantity of the two previous ones. in trading this section is aplied to identiffy developing Level of suport and opposition. The explanation ideas is that behind a powerful Price current an benefit is Likely to recollect a definite part of that move before ongoing in the actual management.

Explain the most important Fibonacci levels and show at least one example on a chart of a cryptocurrency pair?

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The challenge point to article Participant with the awareness to explain "FIBONACCI RETRACEMENTS" in trade scheme . By sympathy these recollect quantity members can create cultured choice on choice statement or going view . currently, approves disturb over the major situation of "FIBONACCI RETRACEMENTS"..

Use the STEEM/USDT chart and show how Fibonacci retracements work?

• 0% 1ST POINT

This is the starting point of the recollect measure mean the opening price

• 23.6% 1ST PERSEVERATE

Level a common quantity advissable a outside "RETRACEMENT"

• 38.2% 2ND "RETRACEMENT" LEVEL

Some other solution measure offten study a moderrate"RETRACEMENT" area

• 50% CENTRAL POINT

While not a "FIBONACCI" numbers it is widelly used in Trading as a signeficant"RETRACEMENT"level

• 61.8% 3RD "RETRACEMENT" LEVELS

This level is considerred a more material "RETRACEMENT" offten sensible a future trend swing

• 100% ORIGINAL PRICE

This mean a real "RETRACEMENT" bringging the Price back to its starrting Point

Currently lets relate this awareness to the STEEM/USDT Chart

Best example

Aplying "FIBONACCI RETRACEMENTS"to STEEM/USDT Chart

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The chart we can obsserve the signifecant Price action in the STEEM/USDT partner.. By aplying "FIBONACCI RETRACEMENTS" quantity we point out possible zone of hold up and opposition.. trader can use these quantity to create literate decissions about entry or exit view build on the look for "RETRACEMENTS"

Advantages and disadvantages of Fibonacci retracements?

Advantages

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• Objective Analysis

"FIBONACCI RETRACEMENTS"supply a organized and neutral way to study future Price Levels

• Widespread Usage

These RETRACEMENTS"levels are widdely accept and used by a lot of trader ading to their Effectivenes

• Integration with Other Indicators:

"FIBONACCI RETRACEMENTS"can be used in conjuction with other applied indicatorss to amplify decission create

Disadvantages

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• Subjectivity in Placement

There can be difference in where trader choise to position the "FIBONACCI RETRACEMENTS" quantity major to separate analysis

• Nothing foolproof

Like any display"FIBONACCI RETRACEMENTS" are not certain and should be used in simultaneity with other forms of analyzing

• Market point of view Change

Externall factors can fastly changing market Sentiment create "FIBONACCI RETRACEMENTS" measure Less attest

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