Disliked{quote} These are Fibonacci levels, I use them as a mathematical tool to divide price action without the need of doing calculations, you don't necessarily need to use Fibs.For example, if you have an arbitrary price action ranging from 1-10, you derive levels from the range. The levels manually drawn and calculated(quarterly) will be 0, 2.5, 5, 7.5, 10. Fibs does that for you automatically without the need for calculating manually in complex graphs, learning how to draw the levels is a different matter altogether. Go through my previous...Ignored

it is a degraded version of " Murrey Maths" or of the Gann division by 8 of a Price range.

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