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| Don't be intimidated by Fibonacci retracement. You need to include this arcane analysis in your daily routine. Most charting packages and trading interfaces include this function with other trendlines. Use it to evaluate the key numbers of retracement. Markets tend to reverse direction at 38%, 50% and 62% of their prior direct trend thrust, in all time frames. Retracement carries special power when analyzed in 3-D. For example, when the 62% retracement in one time frame aligns with the 38% retracement in the next larger time frame, you've found a very profitable entry level.
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