Tag Archives: fibonacci retracement guide

Fibonaccy retracements are a favorite of forex traders that use technical analysis to determine support and resistance levels in the market. It is generally applied to traders forex trading strategy.

Fibonacci retracements are based of a sequence of numbers that were found by the renowned thirteenth century mathemetician, Leonardo Fibonacci. Fibonacci ratios are utilized to divide the area between two points (high and low). These ratios are 23.6%, 38.2%, 50%, 61.8% and 100%..