What Are Fibonacci Retracements & How To Trade With Them

Fibonacci Retracements Explained

The Fibonacci retracement tool has become a relatively popular technical indicator amongst forex traders, primarily due to the way it can easily help users to spot the interaction between corrective and trending movements in the forex market. Fibonacci retracement levels are horizontal lines that indicate where potential support and resistance levels can occur. Each of these price levels are based on the Fibonacci numbers and a percentage. The percentage is how much the price has retraced from the previous market movement. The indicator is useful for creating Fibonacci levels between two significant price points chosen by the user, usually market …READ MORE