Fibonacci guide
Fibonacci Retracement: Reading Observation Zones
A retracement observes price moving back toward a prior range after a move. A ratio does not promise a reversal.
Confirm the swing first
For an upswing, identify the move from low to high; for a downswing, identify the move from high to low.
Treat levels as zones
The common ratios are volatility-aware observation zones, not single-price commands.