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Fibonacci Retracement
IndicatorsHorizontal lines at key Fibonacci ratios (23.6%, 38.2%, 50%, 61.8%, 78.6%) drawn between a high and low point. These levels often act as support and resistance where pullbacks may reverse.
Related Terms
Support
A price level where buying pressure tends to overcome selling pressure, causing the price to stall or bounce upward.
Resistance
A price level where selling pressure tends to overcome buying pressure, causing the price to stall or reverse downward.
Confluence
When multiple independent technical signals align at the same price level or time, increasing the probability that a setup will work.