Thursday, October 2, 2008

Fibonacci entry

The market usually retrace after a strong up or down trend move. The Fibonacci correction tool can be used as a way to identify whether the trend will reverse or continue.Traders can take advantage of the tool and enter a position before any breakout happen.If you are a trend trader then 38.2% ,50% and 62.8% retracement levels are the key level to enter a trade,off-course candlestick formation must support your entry.

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