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Fibonacci Retracement
  Fibonacci Retracement How it works!
In the technical chart analysis, Fibonacci retracements or extensions are enjoying large popularity and find more and more followers. The calculation and addition into charts is still quite cumbersome. With this module, the followers of this method can recognize instantly the Fibonacci marks for supports and resistances for the different time levels and currency pairs.
Fibonacci Retracement
The module displays Fibonacci retracements and extensions of a market. Like in the Resistance and Support Module, different time levels can be selected.

So you always have important Fibonacci levels in relation to the real-time exchange rate in front of you. Displayed are always two levels above and two below the current rate.
 
How it works!
 
  Fibonacci Retracement: Application
The menu for the currency pairs is located at the upper left.
   
Using the second drop-down menu allows you to set the desired time frame.
   
The left side of the module displays the pip distances of the individual Fibonacci lines to the current rate in color-enhanced areas.
For lines above the current price the areas are shown in blue, for lines below they are shown in red.
   
Two lines above the current rate indicate the two closest Fibonacci lines.
   
The two lines below the current rate indicate the two closest Fibonacci lines. Here also, the respective prices in the middle of the module are displayed numerically. Only the two Fibonacci lines closest to the price are shown (above and below), depending on the time level. For example, in the long term setting for the next resistance, the pip distance to the current price could be significantly larger than in the short term setting.
   
To the right of the numbers for the alarm setting, you can see two percentages for each Fibonacci line. These figures describe the probability for a breakout or a rebound of the price level.
   
  Here are some examples
 
   
Example 1:
Resistance, high probability of price breakout.
Example 2:
Resistance, high probability for price rebound.
   
Display: Display:
   
  Example 1
   
   
   
  Example 2
   
   
   
In the right half of the window, various price levels of the Fibonacci lines are labeled with numbers on white circles. These numbers are used for the alarm function. For example, if you would like to set an alarm for the next support, select number 3 of the alarm setting.
   
In the center of the window, the current price is displayed numerically.
   
In the center there is a horizontal red line that represents the current price.
 
 

 

 

 
 
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