What is Fibonacci Retracement?
Technical AnalysisIntermediate
Fibonacci retracement is a technical tool that uses horizontal lines at key percentages (23.6%, 38.2%, 50%, 61.8%) to identify potential support and resistance levels. These levels are based on the Fibonacci sequence found in nature and mathematics. Traders use them to predict where pullbacks might end.
Related terms: Support Resistance Pullback