How do you use Fibonacci tools?

In an uptrend, place the Fibonacci tool in Forex trading from left to right, from bottom to top. In a downtrend, place the Fibonacci tool in Forex trading from left to right, from top to bottom. This way, the Fibonacci targets are placed on the correct side: on top (for uptrend) and at the bottom (for downtrend).

How do you use the Fibonacci Calculator?

One of the key advantages when trading using the Fibonacci retracement is that you can identify the optimal stop-loss levels at a glance. After the price has reversed close to a Fibonacci level, place a stop-loss below the local low or above the local high.

What are the benefits of using Fibonacci retracement?

Fibonacci retracement levels can be used for the following reasons: Adding key support and resistance (S&R) levels to the chart. Finding better entry points. With the trend: directly at the Fibonacci retracement level (s). With the trend: after price bounces at the Fibonacci level (s). Countertrend: at the Fibonacci target (s).