Description: In this Mastermind Pro episode, we review some of the standard ways to identify support and resistance and then dive into the ‘magical’ world of Fibonacci retracements.
Fibonacci levels are important because they can help us identify possible support and resistance when timing pullbacks in a trend.
By themselves, any support and resistance level we might choose doesn’t have much value.
However, S/R levels do become important when they contribute to a confluence of coincident factors that together constitute an edge.