♻ ERN 0.5/0.618 FIB confluence
I'm not a big fan of any Fibonacci-related tools, but I just wanted to share this, for those who like to put their trust in those retracement levels.
Measuring those two moves 0.5 & 0.618 levels are placed in the area of previous resistance which currently acts as support. If we see a good reaction from here this could indicate a local bottom for the price action.
Measuring those two moves 0.5 & 0.618 levels are placed in the area of previous resistance which currently acts as support. If we see a good reaction from here this could indicate a local bottom for the price action.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.