Article This Fib Can tell the Truth

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I love Thursdays in our Professional Trader class. That is the day we discuss Fibonacci numbers and how to use them. It still amazes me when I realize how well these Fibonacci numbers work. You can use them to measure price retracements and projections for new impulses. These levels will give you possible support and resistance levels at which traders can enter trades and/or take profits. The first part of using the Fibs as they are known is to identify the cycle or impulse in the stock, Forex pair, E-Mini or whatever you are trading. The cycle or impulse is the predominant direction and thrust of the security. We commonly call it the trend. In our classes we also teach how to identify the impulsive and corrective environments and what they mean to us as traders.
Today, I am going to discuss a Fibonacci technique I use to anticipate changes in the trend. This is not as accurate as Fibonacci retracements or projections but can be used to warn of possible reversals in the current...
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