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Can Fibonacci extensions help us identify where gold might encounter resistance?
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0:00lesson
Fib-based extension tool for gold chart analysis
- Tool called trendbased fib extension
- Found in Trading View second tool
- Star adds to favorites bar
- Christopher Muellan taught tool use
- Cycle low to cycle high for analysis
1:46lesson
Fib extension levels as resistance
- 38.2% extension level acts as resistance
- 50% extension level also acts as resistance
- Levels identified by trader lines
- Distance from low to high used for calculation
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