How to Trade Using Fibonacci Levels
December 5, 2021
Construction of Fibonacci Levels During a Downward Correction
December 5, 2021

Construction of Fibonacci Levels During an Upward Correction

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

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 an upward price movement, these levels become resistance 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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