Fibonacci zones and support levels are key concepts in technical analysis, often used in wave analysis to predict potential price movements in financial markets. Fibonacci zones are areas where price retracements or extensions are likely to occur, based on Fibonacci ratios (such as 23.6%, 38.2%, 50%, 61.8%, and 78.6%). These levels are derived from the Fibonacci sequence and help traders identify where a market might reverse or stall.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.