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Fibonacci Levels and How to Use Them
Drawing Fibonacci levels on a price chart follows these rules: each level represents a portion of the previous complete move. Therefore, when marking levels, you need to:
- Identify a complete trend (or a wave before a correction within the trend) on the chart.
- Calculate the difference between the highest and lowest prices of that move.
- Determine the specific level values.
- Using a selected extreme point as the starting point, draw the level on the chart.
Since Fibonacci retracements are symmetrical, choosing the highest or lowest point of the ran
View OriginalFibonacci Levels and How to Use Them
Drawing Fibonacci levels on a price chart follows these rules: each level represents a portion of the previous complete move. Therefore, when marking levels, you need to:
- Identify a complete trend (or a wave before a correction within the trend) on the chart.
- Calculate the difference between the highest and lowest prices of that move.
- Determine the specific level values.
- Using a selected extreme point as the starting point, draw the level on the chart.
Since Fibonacci retracements are symmetrical, choosing the highest or lowest point of the ran
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