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
- A real demonstration by an experienced trader.