Currency trading can be beneficial for everyone. But it does not mean that it comes easy. Successful trading is not just a process, it is also a skill. A skill that involves mastering a set of tools. One of such tools is technical analysis - a method that allows you to systematize the market patterns and work out a plan of action. 
Unlike the fundamental analysis, technical analysis is based on dry data rather than chaotic factors such as politics. This gives it an advantage of being more comprehensive and  predictable. There are several approaches to technical analysis. They differ based on multiple indicators and focus on individual characteristics of the market and trading itself. In this article we are going to focus on Fibonacci Forex trading strategy method.

How to use Fibonacci in technical analysis

For starters, let’s define the Fibonacci retracement itself. Fibonacci series in technical analysis are numerical indicators of support and resistance levels. In simple words, it is markers on the chart that will show where the price will stop falling or rising.
Fun fact, the Fibonacci method is called after an ancient Italian scientist Leonardo Fibonacci. He has discovered various algorithms and algebraic methods by observing and studying rabbit regeneration. Kind of makes you wish your assets “multiply like bunnies”, doesn’t it.
Many traders rely heavily on the Fibonacci trading sequence for Forex indicator. However, it is also wise to combine in with other methods for better results. In order to do that the correct way, start by getting familiar with the Fibonacci retracement strategy.

Fibonacci Forex trading strategy

Once you get familiar with the method and learn how to use Fibonacci retracement in Forex, the next step would be to apply the knowledge. As you look at the chart, focus on the Forex Fibonacci levels and make sure you see the picture clearly. 
Take your time and study the terminology as well. It might seem unnecessary in the beginning, but will serve you right in the long run. The main advantage of this method is that it is based on pure mathematics which makes it foolproof on some levels. That is why it should be treated with respect.
The key to understanding and mastering the Forex Fibonacci levels is concentration. Pay attention to details and do not hesitate to double check your observations. As well as, do not feel intimidated by the amount of data you need to process - it will pay off generously at the end of the day.