Description: Blog
What is Fibonacci Retracement?
Fibonacci retracement is a technical analysis tool used to identify potential support and resistance levels in financial markets. The tool is based on the mathematical sequences discovered by an Italian mathematician named Leonardo Fibonacci during the 12th century. The concept of Fibonacci retracement has been around for centuries and has been widely used by traders to make informed decisions about their financial investments.
The Importance of Fibonacci Retracement in Forex Trading