- Use Fibonacci tool by connecting the last swing low and last swing high to display 5 possible areas of support - Look for price to turn at one of these 5 main levels before entering a trade for ...

Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. They are based on Fibonacci numbers.

Hoggatt sees Fibonacci everywhere. “The piano octave,” he notes with satisfaction, “has eight white keys—five black keys and 13 keys altogether,” all Fibonacci numbers.