Find out more about Fibonacci retracement levels and how some forex traders use them profitably in their trading strategies.

What Is Fibonacci Retracement and How to Use it Fibonacci retracement is a technical analysis tool used to identify potential levels of support and resistance during a price pullback.

Plotting Fibs on Your Charts The Fibonacci price levels on a chart are referred to as Fibs. Many charting packages have drawing tools that include Fib retracement.