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Fibonacci Levels & Day Trading

Fibonacci ratios, when applied to trading stocks, correlate two trends; let’s refer to them as primary and secondary. The primary trend refers to a trending move in one direction while the secondary trend will refer to countertrend moves in the opposite direction. The three most common Fibonacci retracement levels are 38.2%, 50%, and 61.8% of the primary trend and most basic stock charting applications will use these as standard levels.

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