How to Use Fibonacci Retracement to Enter a Trade

The first thing you should know about the Fibonacci tool is that it works best when the forex market is trending. The idea is to go long (or buy) on a retracement at a Fibonacci support level when the market is trending up, and to go short (or sell) on a retracement at a Fibonacci resistance level when the market is trending down.

A retracement should not be confused with a reversal, which is a change in the larger trend. Gold is surging, indicating a long-term trend change. Traders can use the extension levels as an area to focus on for a target area. Learn about a number of various technical indicators traders and analysts use to define and confirm the existence of a bull Losses can exceed investment.

How Reliable Is the Fibonacci Retracement in Predicting Stock Behavior?

A Fibonacci retracement is a popular tool among technical traders and is based on the key numbers identified by mathematician Leonardo Fibonacci in .

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