Fibonacci FULLY Explained

A favorite technical analysis tool of many traders is the Fibonacci retracement. At its core, the tool basically measures the stock compared to its previous trend; hence, the name. The tool focuses on 3 main retracement level: 38%, 50%, and 62%. Depending on your time frame, all of these can be used as significant support and resistance measurements.

It is important to note that this tool should not necessarily be used for price targets, rather just to get a feel for what kind of trend the current stock is in.

If you are a little confused, then don’t worry because it is easier to show you than write about it.

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