Here's another great example of how amazingly accurate Fibonacci Profit Targets are at stopping a trend and causing a reversal.

In this case the market makes a big move hours earlier and then explodes up right to the first Fibonacci 1.382 Target and stops on a dime. Markets frequently make double tops/bottoms at these levels and this is a low risk, high probability area to take a counter trend trade and exit any long position you may have had.

It makes two 20 pip drops from this level!



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