Fibonacci Retracement:

Fibonacci retracement levels are 23.6%,38.2%,50.0%,61.8%,and 76.8%.

Fibonacci most test levels or hold levels are 38.2%,50.0%,61.8%.

Fibonacci in draw a fibo line from strong swing high to swing low ,strong swing low to swing high,resistance to support , support to resistance .

In fibonacci with using many tool and indicators example:.macd,candlestick and trendline.

Fibonacci retracement levels are describe a profit level targets.

How to use Fibonacci lets see in below in examples:

Example 1:Fibonacci

in fibonacci draw a fibo line from strong swing low to swing high. price back from resistance and hold 61.8 on level. after price back from this level and hit the target.

Example 2:fibonacci with trendline:

we can use fibonacci and trendline at same time.fibonacci draw a line from swing low to high, and draw a trend line after . price back from resistance and touch trendline .that touch point with trendline is support and forex trader can make buy entry . because price can pull back from this level.

Example 3:fibonacci with support and resistance:

we use fibonacci with support and resistance for enter in trend. we can use previous support and resistance for next entry level. even use support resistance for set a profit target .

Trendline