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Standard Fibonnaci Levels are not very valuable.

BATS:SPY   SPDR S&P 500 ETF
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Instead, start using harmonic levels. This is a custom chart with my own levels that I use every day. Time frame does make a difference for day trading, as some the .618, .886, are frequent intra-day targets for me. Once you understand the importance of these levels, you'll add a very precise leading indicator to your tool box.
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