This is a good explanation of the psychology when trading these "imaginary lines", but for example it does not explain why distances between horizontal resistan

This is a good explanation of the psychology when trading these "imaginary lines", but for example it does not explain why distances between horizontal resistance lines have the ratios of the Fibonacci sequence. Horizontal lines are not that interesting, even though they are powerful. What's much more astounding are the angled lines and things like the Gann fan, or the Fibonacci speed resistance arcs.