How to Draw Fibonacci Retracements

Since you're already here then you already know how Fibonacci is important in Forex trading world, and all you want to know as I guess is "how to draw Fibonacci Retracements" accuracy to get the correct numbers for your trades.

What makes Fiboancci levels so important is that Fibnoacci is playing the main rule in harmony pattern trading, when you get the support and resistance levels using fibo tool, then you'll find out which pattern is forming, you can easily identify if is it gartley pattern, butterfly pattern, Crab Pattern or bat pattern.

Well, here we'll give you the example using MT4, using the same concept will give you the same result in any other platform, it all about how to use it, no where to use it.

First look at your wave in your charts, this wave has a start and end point, click the Fibonacci icon in your tool bar, or click Insert>Fibonacci>Retracement, if your wave an up trend wave, then make a click in the lowest point of the wave and drag to the top, if your wave is a down trend wave, make a click in the highest point and drag to the lowest point, then automatically you'll find the support and resistance levels drawn and you can apply your pattern strategy to start your calculations and trading.


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