Construction of Fibonacci Levels During an Upward Correction
December 5, 2021
Construction of Fibonacci Levels During a Price Correction
December 5, 2021

Construction of Fibonacci Levels During a Downward Correction

During price movement downward following growth (a downward correction), levels are constructed from left to right, that is, from the minimum price to the maximum.

In this case, attention must be paid most of all to the levels 0.16 (16%), 0.236 (23.6%), 0.382 (38.2%), 0.5 (50%), 0.618 (61.8%), 0.7639 (76.39%), and 1 (100%). These levels are colored blue by default.

During a downward price movement, these levels become support levels. The key levels are 0.382 (38.2%), 0.5 (50%), and 0.618 (61.8%). The correction is considered finished if the price has broken through the 0.618 (61.8%) level.

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