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Fibonacci Clusters on Gold

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Uploaded by on Apr 6, 2008

Bernie Mitchell demonstrates how he finds accurate support and resistance levels using his Fibonacci Clusters on some Gold trades.

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Education

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Uploader Comments (grandyoda)

  • My Fibonacci Clusters are not standard retracement levels but a special construction based on how the trend actually developed taking into account the swings within the trend, therefore "clusters". Even more precise levels can be calculated by working up to 4 trends which are CONFLUENCE levels.

    You can see this everyday in my MegaMarkets chatroom on HotComm.

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  • I like the way you go from left to right. However, I did not see any clusters just standard retracement levels. A cluster is the confluence of retracements, extensions and projections from several swings or trends.

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