Fibonacci Retracement Levels Calculator
Uptrend Retracement
Downtrend Retracement
Formula
Uptrend Level = High - (High - Low) x Ratio; Downtrend Level = Low + (High - Low) x Ratio
Frequently Asked Questions
What are Fibonacci retracement levels?
Fibonacci retracement levels are horizontal lines based on the Fibonacci sequence that indicate potential support and resistance levels. The key ratios are 23.6%, 38.2%, 50%, 61.8%, and 78.6%.
How do I use Fibonacci levels?
In an uptrend, draw from the swing low to the swing high. The retracement levels show potential support areas where price might bounce. In a downtrend, draw from swing high to swing low for resistance levels.
Why is 61.8% important?
The 61.8% level is known as the Golden Ratio and is considered the most significant Fibonacci level. Price often finds strong support or resistance at this level.
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