Assets have a tendency to retrace, rather than move in a straight direction, traders use the Fibonacci Indicators as reference points to predict a retracement versus a reversal. Extremely accurate when analyzing chart pattern reversals. Fibonacci indicators also provide an excellent visual map. Combined with other indicators, the savvy trader can find optimum entry and exit points.
Technical Analysts use these Fibonacci Indicators known as Fib-lines to predict Price Targets and Support/Resistance Targets. While nothing can predict the future with 100% accuracy, adding these to your technical analysis tools greatly enhances your ability to be in profitable trades.
Barry Norman The Director of Investors Trading Academy as well as a published author and educator. Barry brings with him over 35 years of financial market knowledge and experience. He holds an MBA in Finance and Economics from UCLA and an undergraduate degree in Economics from the University of Maryland. Barry was award the title of “Best Education in Europe” by Global Banking & Finance.
Barry is also a presenter for the MoneyShow and many well-known news sources.