How to Use Fibonacci Retracement with Trend Lines

The Fibonacci trendlines may be used to help determine price support/resistance at or near certain levels. The Fibonacci lines occur at 0.0%, 23.6%, 38.2%, 50.0%, 61.8%, 76.4% and 100.0%. Retracements occurring at these points within a trend could be used to help determine entry and exit points for a contract.

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To add Fibonacci lines to a chart

  1. From within a chart, use the Annotate menu to select Fibonacci Retracement/Extension.
  2. Click your mouse at a peak or low point in the chart and pull to down/up and to the right across the chart.
  3. A series of seven colored trendlines are drawn at 0.0%, 23.6%, 38.2%, 50.0%, 61.8%, 76.4% and 100.0%.

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