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.

Key Takeaways Fibonacci retracements are popular tools that traders can use to draw support lines, identify resistance levels, place stop-loss orders, and set target prices.

Traders can use various tools and patterns to set their entry and exit points. For gold, Vernier favors using the Fibonacci retracement tool, which marks percentage points based on the Fibonacci ...

1. Fibonacci retracement Fibonacci retracement is a technical analysis tool used to spot potential support and resistance levels, as well as price targets.