Newbie , fibo 50% question

New to forex here please be nice

I read some where in the forum about ( i think it's something jacko ) he mention about using fibo 50%,

what is that used for ? for taking profit ? and how do you used it ?


thank you very much

It has to do with the Fib Retracement tool.... you can read about it here

http://www.metaquotes.net/techanalys...ci_retracement

and

http://www.investopedia.com/terms/f/...etracement.asp

and

http://www.babypips.com/forexpedia/i...ci_Retracement

and applications as seen in Jackos thread, and used a lot in the James16 thread


Best,
Mike