The Fibonacci tool is very popular amongst traders and for good reasons. The Fibonacci is a universal trading concept that can be applied to all timeframes and markets. There are also countless Fibonacci tools from spirals, retracements, Fib time zones, Fib speed resistance to extension. In this article, I will explain how to correctly draw a Fibonacci sequence and how to use the Fibonacci extensions for your trading. How to draw Fibonaccis – just do it Often, traders who have no prior experience with Fibonaccis are worried that they are ‘doing it wrong’ and they then don’t use the Fibonacci tool at all. I can assure ... (full story)