Fibonacci retracement levels are used fibonacci retracement lines forex support and resistance levels. Fibonacci extension levels are used as profit taking levels.
So, what we will learn today is how to apply Fibonacci tool and how to interpret results that we see on the screen. Fibonacci tool available within their trading platforms. So, click on Fibonacci tool from trading platform that you use. A — our lowest swing, B — our highest swing. So, we will look to BUY some lots at the good lowest price and go up with the trend. Click on A and drag your cursor to B, click. You must see different lines appeared on your chart.