#Fibonacci Retracement How i use it ?
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1
Fibonacci Retracement is a technical analysis tool that i use to locate areas/levels of support & resistance
It is based on the Fibonacci sequence ratios introduced by Leonardo Fibonacci

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Measure the rise of price from swing low to swing high (depends on the time frame in use)
This level will give the support levels AND the potential resistances levels once price continue higher

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Let's take $FSLY Daily for example
White Arrow : Swing high
Yellow Arrow : Swing low

As you can see it gives us support levels & future potential resistance levels

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I often add also the 1 HR chart levels
White Arrow : Swing high
Yellow Arrow : Swing low
As you can see price touches all and re tests all the levels from the yellow arrow to the blue arrow which is the 1.272 EXTENSION of this move

5//
Here is the Daily & 1 HR side by side
So you can follow potential pull back & potential upwards resistances during hours