Fibonacci retracement levels have become one of the main tools for the modern chartist and included in all popular trading platforms.
Analyst’s plot the key Fibonacci retracement levels of 76.4%, 61.8%, 38.2%, 23.6%, and 50% to determine entry points either for shorts or longs and they can also identify levels for taking profits and for stop-loss orders.
Watch our video below and learn the following:
How to draw Fibonacci retracement levels for Forex trading
Fibonacci mistakes that can lead to misleading signals
How to set up the MT4 Fibonacci tool as per your trading style
How to turn Fibonacci signals into potential trading opportunities