Fibonacci retracements are horizontal lines that indicate possible support or resistance areas at the key Fibonacci levels.

These levels are created by dividing the vertical distance between a swing high and a swing low by the key Fibonacci ratios of These ratios are based on the number sequence identified by the Italian mathematician Leonardo Fibonacci centuries ago.

The Fibonacci sequence of numbers is as follows: Each number of the sequence is approximately 1.

Fibonacci Forex trading strategy

The key Fibonacci ratio of When the Fibonacci retracement levels are plotted on the chart it could be expected why did dow drop yesterday the pullbacks during a trend will end forex software with fibonacci retracement strategy these support or resistance areas.

You can plot Fibonacci levels based on various swing highs and lows and look of areas of confluence.

I don't base my trading decisions solely on Fibonacci retracements and prefer to use them only for confirmation of buy or sell set ups. Expert Advisors Generator Expert Advisor Studio Forex Strategy Builder Professional Binary Options Tester Algo Studio NinjaScript Studio. Fibonacci Retracements Fibonacci retracements are horizontal lines that indicate possible support or resistance areas at the key Fibonacci levels.