Commander in Pips: Well, let’s see, what happens then: Chart #4 EUR/USD Hourly Pipruit: See, looks like I was right! Commander in Pips: All traders think in this way first… But then – ooops! So, would you like to sell from 0.5 now? Pipruit: Probably yes. Besides, as you’ve said – down move has already started… Commander in Pips: Hm, it started from 0.382 also, but look what happened then.. Pipruit: Well, upside move is still gradual, so I think that I would like to sell from 0.5 also. Commander in Pips: Ok, as you wish, your highness. Let’s see…: Pipruit: Oh, no. 0.5 has been broken also. But 0.618 as you’ve once said is a major level, so as 0.382. It should hold I believe it. Commander in Pips: Probably yes… …but no. Commander in Pips: Ok, I will not play mind games with you anymore. Here you can see, that although the market has respected almost each level – nevertheless, finally all of them have been erased by market price action. Pipruit: Also, and what conclusions can we make from all these examples – not to use Fibonacci retracement, or what?