This article delves into how Fibonacci retracement works, its application in crypto trading, and real-world examples of how traders use this tool to improve their trading outcomes.

What Is Fibonacci Retracement and How to Use it Fibonacci retracement is a technical analysis tool used to identify potential levels of support and resistance during a price pullback.

He utilizes the Fibonacci retracement tool for determining entry and exit points. He emphasizes the importance of understanding market drivers and the cyclical nature of commodities.

Nonetheless, many traders have been successful with the Fibonacci retracement tool. That is why, if anything, it is important to be aware of it when deciding on how to invest in an equity.

Plotting Fibs on Your Charts The Fibonacci price levels on a chart are referred to as Fibs. Many charting packages have drawing tools that include Fib retracement.