One of the most powerful tools used by professional traders is Fibonacci Retracement. This tool helps identify potential support and resistance levels during market pullbacks.
Fibonacci levels are based on mathematical ratios commonly found in nature and financial markets. The most important levels traders watch are 0.382, 0.5, and 0.618.
For example, if $FTM rises strongly and then starts pulling back, traders often measure the retracement using Fibonacci levels. If the price holds around the 0.618 level, it may act as strong support before the trend continues upward.
Many traders combine Fibonacci retracement with trendlines and volume analysis to confirm trade setups. Understanding how to use Fibonacci can help traders identify high-probability entry zones instead of chasing the market.
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$FTM
