Fibonacci Retracements
Fibonacci retracement levels are found by taking the high and low values on a chart and then marking the key fibonacci ratios horizontally to form a grid. The fibonacci values can show potential reversal zones. The key fibonacci ratios are 23.6%, 38.2%, and 61.8%. The 50% level is also usually marked as a retracement level although it technically isn't based on a Fibonacci number, it is still widely seen as an important and potential reversal zone....
