Exploring the Power of Fibonacci Retracements in Trading One of the most popular tools used by traders in the forex market is Fibonacci retracements. It is a technical analysis tool that helps traders identify potential support and resistance levels based on the Fibonacci sequence. In this article, we will explore how Fibonacci retracements can be used in trading and how they can help increase your profits. What are Fibonacci Retracements? Fibonacci retracements are based on the work of mathematician Leonardo Fibonacci, who discovered a sequence of numbers that are found in nature and often used in trading. The sequence is as follows: 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, and so on. Traders use these numbers to identify potential support and resistance levels in the market. How to Use Fibonacci Retracements in Trading There are several ways in which traders can use Fibonacci retracements in their trading…    read more