Fibonacci retracement is a technical analysis tool applied by traders to identify potential levels of support and resistance in an asset's price trend. It is based on the sequence of numbers discovered by the mathematician L.Fibonacci in the 13th century. The main idea is to measure the price moves in an asset between a swing high and a swing low, and then apply certain retracement levels to estimate where the price might find support or resistance in case of a pullback or a correction.

Fibonacci retracement is widely used in financial markets, including stocks, currencies, commodities, and cryptocurrencies. To apply Fibonacci Retracement in chart Identify the trend: Determine the direction of the trend that you want to analyze. It can be an uptrend or downtrend. Indetail about fibonacci retracement get the leason in this app.