When depicting Fibonacci retracement levels, horizontal lines are used to represent the support and resistance levels that correspond to a specific ratio or percentage. The graph represents the movement of a price and its attempts to reverse it. Many traders use the Fibonacci retracement levels in combination with the trend line and other technical indicators as a part of their trend trading strategy. They use the combination to make low-risk entries into an ongoing trend and form a confluence that helps make better trading decisions.

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