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General TradingF
Fibonacci Fan
A Fibonacci Fan is a technical analysis tool consisting of diagonal lines drawn from a trough or peak through Fibonacci retracement levels. The fan lines act as potential support or resistance zones and help identify the pace of a trend's correction.
Example
“The trader applied a Fibonacci Fan from the market bottom and used the 38.2% fan line as dynamic support during the uptrend, entering long each time price pulled back to that diagonal.”