How to Interpret 23.6% Fib Retracement Level

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23.6% Fib Retracement Level

The 23.6% Fib Retracement Level is used to place pending buy orders when there is a strong trend up-wards or pending sell orders when there is a strong trend downward.

Fibonacci Retracement Levels tool is drawn in direction of the trend - Fib retracement stock technical indicator tool is plotted upwards in an upwards trend & Fibonacci retracement stock indicator is drawn downward in a downwards trend.

23.6% Stock Chart Fib Retracement Level - Indices Technical Analysis

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How to Trade 23.6% Fib Retracement Level?

Indices Trade 23.6% Fib Retracement Level

To trade 23.6% Fib Retracement Level traders should first of all draw the Fibonacci retracement indicator in the chart in direction of the trend & then place a pending buy limit order at the 23.6% Fib Retracement Level or place a pending sell limit order at the 23.6% Fib Retracement Level depending on the direction of the trend.

The 23.6% Fib Retracement Level is used by traders when there is strong upward trend or a strong downwards trend which means that prices in the market may not retrace a lot.

How to Analyze 23.6% Stock Chart Fib Retracement Level

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How to Interpret 23.6% Fib Retracement Level

Indices Trade 23.6% Fib Retracement Level