Fibonacci Retracement and How to Entry

If you are often involved in forex trading, you must be familiar with Fibonacci retracements. This analysis indicator is carried out by utilizing the Fibonacci golden ratio, an ancient mathematical arithmetical science that can help traders make profits when trading.

Fibonacci Retracement is an indicator that is able to predict support and resistance levels. Through these indicators, traders can determine for themselves the best time to enter the forex market to get the maximum profit while deciding the price. Generally, this indicator is widely used by traders who play in the forex market.

Retracements are known as short pullbacks or pullbacks from the market price of an asset in the world of trading. Generally, this condition is only temporary and does not cause harmful effects. Thus, Fibonacci Retracement is the total decrease in the price of an asset temporarily in the next period which is calculated based on the Fibonacci sequence.

When carrying out technical analysis, the series of numbers will then be placed on the price chart of an asset in the form of a horizontal line. Furthermore, these lines are known as Fibonacci Retracement Levels. Generally, Fibonacci line draws will present levels in the range of 23.6%, 38.2%, 61.8% and 78.6%. Not only that, the 50% level comparison is also sometimes used even though it is not included in the Fibonacci sequence group.

When the price is close to the Fibonacci region, the possibility of a trend change can be very high. However, always remember that this possibility is not absolute. Traders need other indicators that can help draw conclusions.

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