Getting back to methods based on fibonacci sequence. Most common thing you want to do with this tool is look for retracements and expansions from important swings. The more clusters come at about the same level the greater the probability is that this is going to hold and bounce the price back.
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For those who dont really get what the heck is going on in the world of finance and why it is on the edge ready to fall down on its face here is a short movie about it. Maybe a bit naive or maybe not. Generally I encourage everyone to search this subject a bit more than just listening to talking heads on cnbc. Why? Well, maybe something bad is going on behind your back? Who knows.
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