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The Fibonacci extension tool, available on most trading platforms, can help establish profit targets on trend trades or alert a trader to where potential trend reversal areas could develop. Throughout nature there is a repeating pattern, based on a series of “Fibonacci numbers” which Leonardo Pisano Bogollo introduced to the West. The number series is based on the Golden Ratio, a number found in galaxy formations, plant growth and man-made structures. These “Fibonacci levels” are…
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