Fibonacci Retracements
A 1-minute lesson from the MarketPro academy, one of 26 in technical analysis.
Fibonacci retracement levels are horizontal lines drawn between a recent swing high and swing low to highlight zones where a pullback within a larger trend might pause or reverse. The tool is based on ratios derived from the Fibonacci number sequence, most commonly 23.6%, 38.2%, 50%, 61.8%, and 78.6%.
Fibonacci retracement levels are horizontal lines drawn between a recent swing high and swing low to highlight zones where a pullback within a larger trend might pause or reverse.
The tool is based on ratios derived from the Fibonacci number sequence, most commonly 23.6%, 38.2%, 50%, 61.8%, and 78.6%. After a strong move, traders plot these levels to see where a corrective pullback might find support (in an uptrend) or resistance (in a downtrend).
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Lesson 12 of 26 in Technical analysis
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Not investment advice. Past performance is not indicative of future results.