![\"Fibonacci](\"https:\/\/bpcdn.co\/images\/2011\/02\/23074336\/fibonacci-spiral.png\")
<\/figure>\n\n\n\nRemember that forex traders view the Fibonacci retracement levels<\/strong> as potential support and resistance areas.<\/p>\n\n\n\n And because these levels tend to be closely watched by many, many forex traders, the support and resistance levels may become a self-fulfilling prophecy<\/strong>.<\/p>\n\n\n\n Similar to the retracement levels, the key Fibonacci extension levels are: 38.2%, 50.0%, 61.8%, as well as the 100%, 138.2% and 161.8% extensions.<\/p>\n\n\n\n Traders use the Fibonacci extension levels<\/strong> as potential support and resistance areas to set profit targets<\/strong>.<\/p>\n\n\n\n Again, since so many forex traders are watching these levels and placing buy and sell orders to take profits<\/strong>, these levels can often become the end of the trend move due to self-fulfilling expectations.<\/p>\n\n\n\n In order to apply Fibonacci levels to your charts, you\u2019ll need to identify Swing High and Swing Low points.<\/p>\n\n\n\n A Swing High<\/strong> is a candlestick with at least two lower highs<\/strong> on both the left and right of itself.<\/p>\n\n\n\n A Swing Low<\/strong> is a candlestick with at least two higher lows<\/strong> on both the left and right of itself.<\/p>\n\n\n\n When using Fibonacci tools, the probability of trading success could increase when used with other support and resistance levels, trend lines, and\u00a0candlestick patterns\u00a0for spotting entry and stop loss points.<\/p>\n","protected":false},"excerpt":{"rendered":" Let\u2019s review what we\u2019ve learned about trading\u00a0Fibonacci. The key Fibonacci retracement levels to keep an eye on are: 23.6%, 38.2%, 50.0%, 61.8%, and 76.4%. The levels that seem to hold the most weight are the 38.2%, 50.0%, and 61.8% levels, which are normally set as the default settings of most forex charting software. Remember that forex traders view […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[835],"tags":[],"_links":{"self":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/9570"}],"collection":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/comments?post=9570"}],"version-history":[{"count":0,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/9570\/revisions"}],"wp:attachment":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/media?parent=9570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/categories?post=9570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/tags?post=9570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Fibonacci\"](\"https:\/\/bpcdn.co\/images\/2016\/05\/summary-fibonacci.png\" "\\"Fibonacci\\"\/")
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