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My post was misunderstood. I wasn't asking what the relevance of 62.5% was I was highlighting the fact that it has no relevance whatsoever.Agree as above, draw enough lines on a chart and you can pat yourself on the back every time and say you were correct. Of no help in trading whatsoever. I am not saying Fibonacci ratios are insignificant as I use them often but you need to know how to use them and when. Ideally in conjunction with other T.A. in my opinion.
My post was misunderstood. I wasn't asking what the relevance of 62.5% was I was highlighting the fact that it has no relevance whatsoever.
Agree as above, draw enough lines on a chart and you can pat yourself on the back every time and say you were correct. Of no help in trading whatsoever. I am not saying Fibonacci ratios are insignificant as I use them often but you need to know how to use them and when. Ideally in conjunction with other T.A. in my opinion.
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