The Fib Retracement Tool from TradeLocker is a valuable resource that uses Fibonacci ratios to help identify possible levels of support and resistance.

 

This application helps traders adopt an organized approach to market analysis. Through the use of pre-established Fibonacci ratios, it quickly pinpoints probable places of reversal, making it invaluable to followers of current trends as well as those employing countertrend tactics.

 

Moreover, it is often used in conjunction with other indicators to confirm the stability of a possible level of support or resistance. To sum up, the Fib Retracement Tool improves decision-making skills by simplifying the process of identifying high-probability trade opportunities.

 

Learn how to use the Fib Retracement tool in the video below: