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Fibonacci retracement is only suitable for sideways markets
It can be very useful at times
But when facing a trending market
Be sure to cut losses
Most of the margin calls last night were due to not cutting losses and holding positions
Fibonacci also has an extension tool
If it hits 0.786, it’s considered a deep correction
You should watch for a breakout to new highs and move toward Fibonacci extension levels
Open positions with stop-losses to protect the principal!