In an uptrend, traders draw the Fibonacci levels from a significant swing low to a subsequent swing high. The resulting retracement levels below the high are often viewed as potential support zones ...
The key Fibonacci percentages help traders identify support and resistance levels As new traders flood the market, a return to the basics may help novices understand the fundamentals of options ...
Fibonacci ratios are widely used to develop price targets for retracements on countertrend moves. A Fibonacci retracement will help spot support levels in an uptrend or resistance in a downtrend.