Fibonacci retracement levels often mark reversal points with an uncanny accuracy. Fibonacci forex trading strategies are most effective during a market trend. Retracements and extensions can be used to identify future price points. However, Fibonacci strategies are less effective during short-term trends due to market volatility.

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The retracements are based on the mathematical p […]

If you look closely at the chart, you can also see that Bitcoin tested this golden level again in July and failed to break it. Fibonacci Retracement levels are a useful tool for many technical analysts. To adjust the Fibo tool (levels/colours) simply right click anywhere in the chart and select «Objects List».
The Fibonacci retracement levels are essentially support levels when a stock is moving down or resistance levels when a stock is moving upwards. Fibonacci Levels will be an exce […]

The other argument against Fibonacci retracement levels is that there are so many of them that the price is likely to reverse near one of them quite often. The problem is that traders struggle to know which one will be useful at any particular time. When it doesn’t work out, it can always be claimed that the trader should have been looking at another Fibonacci retracement level instead.
Fibonacci numbers and lines are technical tools for traders based on a mathematical sequence developed […]

In the previous article, we understood the definition of Fibonacci and how the Fibonacci levels are derived. Now we shall see how to use these levels to enter a trade and formulate a trading strategy around it. The Fibonacci lines show key levels of resistance and support.This tool is best used when the markets are trending up or down. You can find this tool when you have the cTrader platform open by looking at the charting toolbar which is usually located on the right-hand side of the chart as […]