Fibonacci Retracement Level

Fibonacci Retracement Levels is a popular tool among traders and investors that uses Fibonacci ratio numbers to identify the support and resistance levels of an asset. This method is based on the Fibonacci sequence, which is a series of numbers where each number is the sum of the previous two. The Fibonacci sequence is believed to occur naturally in many things, including the growth of plants and animals. The most common Fibonacci ratios are 23.6%, 38.2%, and 61.8%.

The Fibonacci Retracement Levels method is a simple and easy-to-use tool that can be used to help identify potential support and resistance levels for an asset. This method can be used on any time frame, but is most commonly used on longer-term charts, such as daily or weekly charts. The Fibonacci Retracement Levels method is based on the idea that markets will retrace a predictable portion of a move, after which they will continue to move in the original direction. The Fibonacci ratios are used to identify these potential retracement levels.

Overall, Fibonacci Retracement Levels is a popular tool among traders and investors that uses Fibonacci ratio numbers to identify the support and resistance levels of an asset. This method is based on the Fibonacci sequence, which is a series of numbers where each number is the sum of the previous two. The Fibonacci Retracement Levels method is a simple and easy-to-use tool that can be used to help identify potential support and resistance levels for an asset. The most common Fibonacci ratios are 23.6%, 38.2%, and 61.8%.