Fibonacci retracement levels may be one of the most popular indicators of support and resistance and they have been around for quite some time. Plenty of traders like to use those levels which explain their popularity, but what about their accuracy?
Do you think they are valid levels to indicate support and resistance because they simply work from a mathematical standpoint or are they accurate because the vast amount of traders who use them in order to determine support and resistance and base their trades as well as analysis on them?
Do you think they are valid levels to indicate support and resistance because they simply work from a mathematical standpoint or are they accurate because the vast amount of traders who use them in order to determine support and resistance and base their trades as well as analysis on them?
