Very simply, Fibonacci are mathematical ratios that price pulls back to before resuming the trend. The four major Fibonacci retracement levels are: 0.236, 0.500, 0.618, and 0.786.

Talking Points - Use Fibonacci tool by connecting the last swing low and last swing high to display 5 possible areas of support - Look for price to turn at one of these 5 main levels before entering a ...