The Fibonacci retracement is considered a predictive technical indicator that can help investors gauge future levels of a currency pair after a sharp increase or decrease in price. More specifically, plotting the lines of the Fibonacci retracement on a chart can help traders find points of support and resistance on which to place stop-loss and take-profit orders. The Fibonacci retracement is popular among forex traders, and when used in …

  When looking directly into the real-time movements of a forex chart, traders can sometimes lose perspective of the bigger picture of what is going on in the forex market. For example, a price movement may appear significant when compared to the current price levels of a currency pair, but may in fact be quite small when viewed in the context of the pair’s historical price movements. In order to …