How does this fib retracement trading work? Do you invest at 38.2% and if it fails that then sell out until it goes to 50%. Then if it fails that sell out and buy in when it gets to 61.8%?
Don't quite understand the significance and the theory behind why it would bounce off these levels (other than a load of traders are using the same concept and buy at these levels).
50% fib retracement is 5.9c, page-5
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