Author: Eugeni Neumoin
Traders can use the Fibonacci tool available in most trading platforms
to define the move, and then levels at the proper intervals of .236,
.382, .500, .618, and .786 can be drawn in. So, when prices move down to
the .236 line, we can say that 23.6% of that trend has been retraced.
Or if prices move down the .618 level, 61.8% of the trend has been