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1. Shard Calculation

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Calculated Shard: 152 (from laksa027)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa152.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://en.wikipedia.org/wiki/Fibonacci_retracement\')), getAhrefsUnparsedNoserviceFromURL(\'https://en.wikipedia.org/wiki/Fibonacci_retracement\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement","crawl_time":1774066288,"first_indexed_time":1375988254,"http_code":200,"src_unparsed":"org,wikipedia!en,\/wiki\/Fibonacci_retracement s443","src_root_hash":"17790707453426894952","history_drop_reason":null,"meta_title":"Fibonacci retracement - Wikipedia","meta_descriptions":[],"attrs_boilerpipe_text":"From Wikipedia, the free encyclopedia\nFibonacci retracement levels shown on the USD\/CAD\ncurrency pair\n. In this case, price retraced approximately 38.2% of a move down before continuing.\nIn\nfinance\n,\nFibonacci retracement\nis a method of\ntechnical analysis\nfor determining\nsupport and resistance\nlevels.\n[\n1\n]\nIt is named after the\nFibonacci sequence\nof numbers,\n[\n1\n]\nwhose ratios provide price levels to which markets tend to retrace a portion of a move, before a trend continues in the original direction.\nA Fibonacci retracement forecast is created by taking two extreme points on a chart and dividing the vertical distance by Fibonacci ratios. 0% is considered to be the start of the retracement, while 100% is a complete reversal to the original price before the move.  Horizontal lines are drawn in the chart for these price levels to provide\nsupport and resistance\nlevels. Common levels are 23.6%, 38.2%, 50%, and 61.8%. The significance of such levels, however, could not be confirmed by examining the data.\n[\n2\n]\nArthur Merrill in\nFiltered Waves\ndetermined there is no reliably standard retracement.\n[\n3\n]\nThe appearance of retracement can be ascribed to\nprice volatility\nas described by\nBurton Malkiel\n, a\nPrinceton\neconomist\nin his book\nA Random Walk Down Wall Street\n.\nFibonacci retracement is a popular tool that technical traders use to help identify strategic places for transactions, stop losses or target prices to help traders get in at a good price. The main idea behind the tool is the support and resistance values for a currency pair trend at which the most important breaks or bounces can appear. The retracement concept is used in many indicators such as Tirone levels, Gartley patterns,\nElliott wave principle\n, and more. After a significant movement in price (be it up or down) the new support and resistance levels are often at these lines.\nUnlike\nmoving averages\n, Fibonacci retracement levels are static prices. This allows quick and simple identification and allows traders and investors to react when price levels are tested. Because these levels are inflection points, traders expect some type of price action, either a break or a rejection. The 61.8% (0.618) Fibonacci retracement that is often used by\nfinancial analysts\ncorresponds to the\ngolden ratio\n.\n[\n1\n]\nExtensive\nbacktests\nof Fibonacci retracement over thousands of\nstocks\nhave shown that the retracements values of 38%, 50%, and 62% had been no likelier to appear than any other of the possible retracement values.\n[\n3\n]\nElliott wave principle\nTrend line\n^\na\nb\nc\nAspray, Tom (August 13, 2011).\n\"Fibonacci analysis – Master the basics\"\n.\nForbes\n. Retrieved\nOctober 24,\n2016\n.\n^\nKempen, René (2016).\n\"Fibonaccis Are Human (Made)\"\n(PDF)\n.\nIFTA Journal\n:\n4–\n9.\n^\na\nb\nMerrill, Arthur (1977).\nFiltered Waves: Basic Theory: a Tool for Stock Market Analysis\n. Analysis Press.\nISBN\n \n0911894365\n.","attrs_markdown":"[Jump to content](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#bodyContent)\n\nMain menu\n\nMain menu\n\nmove to sidebar\n\nhide\n\nNavigation\n\n- [Main page](https:\/\/en.wikipedia.org\/wiki\/Main_Page \"Visit the main page [z]\")\n- [Contents](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Contents \"Guides to browsing Wikipedia\")\n- [Current events](https:\/\/en.wikipedia.org\/wiki\/Portal:Current_events \"Articles related to current events\")\n- [Random article](https:\/\/en.wikipedia.org\/wiki\/Special:Random \"Visit a randomly selected article [x]\")\n- [About Wikipedia](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:About \"Learn about Wikipedia and how it works\")\n- [Contact us](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Contact_us \"How to contact Wikipedia\")\n\nContribute\n\n- [Help](https:\/\/en.wikipedia.org\/wiki\/Help:Contents \"Guidance on how to use and edit Wikipedia\")\n- [Learn to edit](https:\/\/en.wikipedia.org\/wiki\/Help:Introduction \"Learn how to edit Wikipedia\")\n- [Community portal](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Community_portal \"The hub for editors\")\n- [Recent changes](https:\/\/en.wikipedia.org\/wiki\/Special:RecentChanges \"A list of recent changes to Wikipedia [r]\")\n- [Upload file](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:File_upload_wizard \"Add images or other media for use on Wikipedia\")\n- [Special pages](https:\/\/en.wikipedia.org\/wiki\/Special:SpecialPages \"A list of all special pages [q]\")\n\n[![](https:\/\/en.wikipedia.org\/static\/images\/icons\/enwiki-25.svg) ![Wikipedia](https:\/\/en.wikipedia.org\/static\/images\/mobile\/copyright\/wikipedia-wordmark-en-25.svg) ![The Free Encyclopedia](https:\/\/en.wikipedia.org\/static\/images\/mobile\/copyright\/wikipedia-tagline-en-25.svg)](https:\/\/en.wikipedia.org\/wiki\/Main_Page)\n\n[Search](https:\/\/en.wikipedia.org\/wiki\/Special:Search \"Search Wikipedia [f]\")\n\nAppearance\n\n- [Donate](https:\/\/donate.wikimedia.org\/?wmf_source=donate&wmf_medium=sidebar&wmf_campaign=en.wikipedia.org&uselang=en)\n- [Create account](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:CreateAccount&returnto=Fibonacci+retracement \"You are encouraged to create an account and log in; however, it is not mandatory\")\n- [Log in](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:UserLogin&returnto=Fibonacci+retracement \"You're encouraged to log in; however, it's not mandatory. [o]\")\n\nPersonal tools\n\n- [Donate](https:\/\/donate.wikimedia.org\/?wmf_source=donate&wmf_medium=sidebar&wmf_campaign=en.wikipedia.org&uselang=en)\n- [Create account](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:CreateAccount&returnto=Fibonacci+retracement \"You are encouraged to create an account and log in; however, it is not mandatory\")\n- [Log in](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:UserLogin&returnto=Fibonacci+retracement \"You're encouraged to log in; however, it's not mandatory. [o]\")\n\n## Contents\nmove to sidebar\n\nhide\n\n- [(Top)](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement)\n- [1 Common uses](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#Common_uses)\n- [2 Criticism](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#Criticism)\n- [3 See also](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#See_also)\n- [4 References](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#References)\n\nToggle the table of contents\n\n# Fibonacci retracement\n13 languages\n\n- [العربية](https:\/\/ar.wikipedia.org\/wiki\/%D8%AA%D8%B5%D8%AD%D9%8A%D8%AD_%D9%81%D9%8A%D8%A8%D9%88%D9%86%D8%A7%D8%AA%D8%B4%D9%8A \"تصحيح فيبوناتشي – Arabic\")\n- [भोजपुरी](https:\/\/bh.wikipedia.org\/wiki\/%E0%A4%AB%E0%A4%BF%E0%A4%AC%E0%A5%8B%E0%A4%A8%E0%A4%BE%E0%A4%9A%E0%A5%80_%E0%A4%B0%E0%A5%80%E0%A4%9F%E0%A5%8D%E0%A4%B0%E0%A5%87%E0%A4%B8%E0%A4%AE%E0%A5%87%E0%A4%82%E0%A4%9F \"फिबोनाची रीट्रेसमेंट – Bhojpuri\")\n- [Čeština](https:\/\/cs.wikipedia.org\/wiki\/Fibonacciho_retracement \"Fibonacciho retracement – Czech\")\n- [Deutsch](https:\/\/de.wikipedia.org\/wiki\/Fibonacci-Retracement \"Fibonacci-Retracement – German\")\n- [Español](https:\/\/es.wikipedia.org\/wiki\/Retrocesos_de_Fibonacci \"Retrocesos de Fibonacci – Spanish\")\n- [فارسی](https:\/\/fa.wikipedia.org\/wiki\/%D8%A7%D8%B5%D9%84%D8%A7%D8%AD%DB%8C_%D9%81%DB%8C%D8%A8%D9%88%D9%86%D8%A7%DA%86%DB%8C \"اصلاحی فیبوناچی – Persian\")\n- [עברית](https:\/\/he.wikipedia.org\/wiki\/%D7%AA%D7%99%D7%A7%D7%95%D7%9F_%D7%A4%D7%99%D7%91%D7%95%D7%A0%D7%90%D7%A6%27%D7%99 \"תיקון פיבונאצ'י – Hebrew\")\n- [Bahasa Indonesia](https:\/\/id.wikipedia.org\/wiki\/Fibonacci_retracement \"Fibonacci retracement – Indonesian\")\n- [日本語](https:\/\/ja.wikipedia.org\/wiki\/%E3%83%95%E3%82%A3%E3%83%9C%E3%83%8A%E3%83%83%E3%83%81%E3%83%BB%E3%83%AA%E3%83%88%E3%83%AC%E3%83%BC%E3%82%B9%E3%83%A1%E3%83%B3%E3%83%88 \"フィボナッチ・リトレースメント – Japanese\")\n- [Polski](https:\/\/pl.wikipedia.org\/wiki\/Zniesienia_Fibonacciego \"Zniesienia Fibonacciego – Polish\")\n- [Română](https:\/\/ro.wikipedia.org\/wiki\/Retragerea_Fibonacci \"Retragerea Fibonacci – Romanian\")\n- [Tiếng Việt](https:\/\/vi.wikipedia.org\/wiki\/H%E1%BB%93i_quy_Fibonacci \"Hồi quy Fibonacci – Vietnamese\")\n- [中文](https:\/\/zh.wikipedia.org\/wiki\/%E6%96%90%E6%B3%A2%E9%82%A3%E5%A5%91%E5%9B%9E%E8%B0%83 \"斐波那契回调 – Chinese\")\n\n[Edit links](https:\/\/www.wikidata.org\/wiki\/Special:EntityPage\/Q2113735#sitelinks-wikipedia \"Edit interlanguage links\")\n\n- [Article](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement \"View the content page [c]\")\n- [Talk](https:\/\/en.wikipedia.org\/wiki\/Talk:Fibonacci_retracement \"Discuss improvements to the content page [t]\")\n\nEnglish\n\n- [Read](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement)\n- [Edit](https:\/\/en.wikipedia.org\/w\/index.php?title=Fibonacci_retracement&action=edit \"Edit this page [e]\")\n- [View history](https:\/\/en.wikipedia.org\/w\/index.php?title=Fibonacci_retracement&action=history \"Past revisions of this page [h]\")\n\nTools\n\nTools\n\nmove to sidebar\n\nhide\n\nActions\n\n- [Read](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement)\n- [Edit](https:\/\/en.wikipedia.org\/w\/index.php?title=Fibonacci_retracement&action=edit \"Edit this page [e]\")\n- [View history](https:\/\/en.wikipedia.org\/w\/index.php?title=Fibonacci_retracement&action=history)\n\nGeneral\n\n- [What links here](https:\/\/en.wikipedia.org\/wiki\/Special:WhatLinksHere\/Fibonacci_retracement \"List of all English Wikipedia pages containing links to this page [j]\")\n- [Related changes](https:\/\/en.wikipedia.org\/wiki\/Special:RecentChangesLinked\/Fibonacci_retracement \"Recent changes in pages linked from this page [k]\")\n- [Upload file](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:File_Upload_Wizard \"Upload files [u]\")\n- [Permanent link](https:\/\/en.wikipedia.org\/w\/index.php?title=Fibonacci_retracement&oldid=1306163236 \"Permanent link to this revision of this page\")\n- [Page information](https:\/\/en.wikipedia.org\/w\/index.php?title=Fibonacci_retracement&action=info \"More information about this page\")\n- [Cite this page](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:CiteThisPage&page=Fibonacci_retracement&id=1306163236&wpFormIdentifier=titleform \"Information on how to cite this page\")\n- [Get shortened URL](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:UrlShortener&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FFibonacci_retracement)\n\nPrint\/export\n\n- [Download as PDF](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:DownloadAsPdf&page=Fibonacci_retracement&action=show-download-screen \"Download this page as a PDF file\")\n- [Printable version](https:\/\/en.wikipedia.org\/w\/index.php?title=Fibonacci_retracement&printable=yes \"Printable version of this page [p]\")\n\nIn other projects\n\n- [Wikidata item](https:\/\/www.wikidata.org\/wiki\/Special:EntityPage\/Q2113735 \"Structured data on this page hosted by Wikidata [g]\")\n\nAppearance\n\nmove to sidebar\n\nhide\n\nFrom Wikipedia, the free encyclopedia\n\nTechnical analysis method (Finance)\n\n[![Fibonacci retracement levels shown on the USD\/CAD currency pair](https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/1\/1c\/Fibretracement.png\/250px-Fibretracement.png)](https:\/\/en.wikipedia.org\/wiki\/File:Fibretracement.png)\n\nFibonacci retracement levels shown on the USD\/CAD [currency pair](https:\/\/en.wikipedia.org\/wiki\/Foreign_exchange_market \"Foreign exchange market\"). In this case, price retraced approximately 38.2% of a move down before continuing.\n\nIn [finance](https:\/\/en.wikipedia.org\/wiki\/Finance \"Finance\"), **Fibonacci retracement** is a method of [technical analysis](https:\/\/en.wikipedia.org\/wiki\/Technical_analysis \"Technical analysis\") for determining [support and resistance](https:\/\/en.wikipedia.org\/wiki\/Support_and_resistance \"Support and resistance\") levels.[\\[1\\]](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_note-forbes-1) It is named after the [Fibonacci sequence](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_number \"Fibonacci number\") of numbers,[\\[1\\]](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_note-forbes-1) whose ratios provide price levels to which markets tend to retrace a portion of a move, before a trend continues in the original direction.\n\nA Fibonacci retracement forecast is created by taking two extreme points on a chart and dividing the vertical distance by Fibonacci ratios. 0% is considered to be the start of the retracement, while 100% is a complete reversal to the original price before the move. Horizontal lines are drawn in the chart for these price levels to provide [support and resistance](https:\/\/en.wikipedia.org\/wiki\/Support_and_resistance \"Support and resistance\") levels. Common levels are 23.6%, 38.2%, 50%, and 61.8%. The significance of such levels, however, could not be confirmed by examining the data.[\\[2\\]](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_note-2) Arthur Merrill in *Filtered Waves* determined there is no reliably standard retracement.[\\[3\\]](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_note-Merrill_1977-3)\n\nThe appearance of retracement can be ascribed to [price volatility](https:\/\/en.wikipedia.org\/wiki\/Volatility_\\(finance\\) \"Volatility (finance)\") as described by [Burton Malkiel](https:\/\/en.wikipedia.org\/wiki\/Burton_Malkiel \"Burton Malkiel\"), a [Princeton](https:\/\/en.wikipedia.org\/wiki\/Princeton_University \"Princeton University\") [economist](https:\/\/en.wikipedia.org\/wiki\/Economics \"Economics\") in his book *[A Random Walk Down Wall Street](https:\/\/en.wikipedia.org\/wiki\/A_Random_Walk_Down_Wall_Street \"A Random Walk Down Wall Street\")*.\n\n## Common uses\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=Fibonacci_retracement&action=edit&section=1 \"Edit section: Common uses\")\\]\n\nFibonacci retracement is a popular tool that technical traders use to help identify strategic places for transactions, stop losses or target prices to help traders get in at a good price. The main idea behind the tool is the support and resistance values for a currency pair trend at which the most important breaks or bounces can appear. The retracement concept is used in many indicators such as Tirone levels, Gartley patterns, [Elliott wave principle](https:\/\/en.wikipedia.org\/wiki\/Elliott_wave_principle \"Elliott wave principle\"), and more. After a significant movement in price (be it up or down) the new support and resistance levels are often at these lines.\n\nUnlike [moving averages](https:\/\/en.wikipedia.org\/wiki\/Moving_average \"Moving average\"), Fibonacci retracement levels are static prices. This allows quick and simple identification and allows traders and investors to react when price levels are tested. Because these levels are inflection points, traders expect some type of price action, either a break or a rejection. The 61.8% (0.618) Fibonacci retracement that is often used by [financial analysts](https:\/\/en.wikipedia.org\/wiki\/Financial_analyst \"Financial analyst\") corresponds to the [golden ratio](https:\/\/en.wikipedia.org\/wiki\/Golden_ratio \"Golden ratio\").[\\[1\\]](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_note-forbes-1)\n\n## Criticism\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=Fibonacci_retracement&action=edit&section=2 \"Edit section: Criticism\")\\]\n\nExtensive [backtests](https:\/\/en.wikipedia.org\/wiki\/Backtesting \"Backtesting\") of Fibonacci retracement over thousands of [stocks](https:\/\/en.wikipedia.org\/wiki\/Stock \"Stock\") have shown that the retracements values of 38%, 50%, and 62% had been no likelier to appear than any other of the possible retracement values.[\\[3\\]](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_note-Merrill_1977-3)\n\n## See also\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=Fibonacci_retracement&action=edit&section=3 \"Edit section: See also\")\\]\n\n- [Elliott wave principle](https:\/\/en.wikipedia.org\/wiki\/Elliott_wave_principle \"Elliott wave principle\")\n- [Trend line](https:\/\/en.wikipedia.org\/wiki\/Trend_line_\\(technical_analysis\\) \"Trend line (technical analysis)\")\n\n## References\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=Fibonacci_retracement&action=edit&section=4 \"Edit section: References\")\\]\n\n1. ^ [***a***](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_ref-forbes_1-0) [***b***](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_ref-forbes_1-1) [***c***](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_ref-forbes_1-2)\n   Aspray, Tom (August 13, 2011). [\"Fibonacci analysis – Master the basics\"](https:\/\/www.forbes.com\/sites\/tomaspray\/2011\/08\/13\/fibonacci-analysis-master-the-basics\/#1da6d16b5a4d). *Forbes*. Retrieved October 24, 2016.\n2. **[^](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_ref-2)**\n   Kempen, René (2016). [\"Fibonaccis Are Human (Made)\"](http:\/\/www.ftaa.org.hk\/Files\/2016.pdf) (PDF). *IFTA Journal*: 4–9\\.\n3. ^ [***a***](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_ref-Merrill_1977_3-0) [***b***](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_ref-Merrill_1977_3-1)\n   Merrill, Arthur (1977). *Filtered Waves: Basic Theory: a Tool for Stock Market Analysis*. Analysis Press. [ISBN](https:\/\/en.wikipedia.org\/wiki\/ISBN_\\(identifier\\) \"ISBN (identifier)\")\n   \n   [0911894365](https:\/\/en.wikipedia.org\/wiki\/Special:BookSources\/0911894365 \"Special:BookSources\/0911894365\")\n   \n   .\n\n| [v](https:\/\/en.wikipedia.org\/wiki\/Template:Technical_analysis \"Template:Technical analysis\") [t](https:\/\/en.wikipedia.org\/wiki\/Template_talk:Technical_analysis \"Template talk:Technical analysis\") [e](https:\/\/en.wikipedia.org\/wiki\/Special:EditPage\/Template:Technical_analysis \"Special:EditPage\/Template:Technical analysis\")[Technical analysis](https:\/\/en.wikipedia.org\/wiki\/Technical_analysis \"Technical analysis\") |   |\n|---|---|\n| Concepts | [Breakout](https:\/\/en.wikipedia.org\/wiki\/Breakout_\\(technical_analysis\\) \"Breakout (technical analysis)\") [Dead cat bounce](https:\/\/en.wikipedia.org\/wiki\/Dead_cat_bounce \"Dead cat bounce\") [Dow theory](https:\/\/en.wikipedia.org\/wiki\/Dow_theory \"Dow theory\") [Elliott wave principle](https:\/\/en.wikipedia.org\/wiki\/Elliott_wave_principle \"Elliott wave principle\") [Market trend](https:\/\/en.wikipedia.org\/wiki\/Market_trend \"Market trend\") |\n| Charts | [Candlestick](https:\/\/en.wikipedia.org\/wiki\/Candlestick_chart \"Candlestick chart\") [Renko](https:\/\/en.wikipedia.org\/wiki\/Renko_chart \"Renko chart\") [Kagi](https:\/\/en.wikipedia.org\/wiki\/Kagi_chart \"Kagi chart\") [Line](https:\/\/en.wikipedia.org\/wiki\/Line_chart \"Line chart\") [Open-high-low-close](https:\/\/en.wikipedia.org\/wiki\/Open-high-low-close_chart \"Open-high-low-close chart\") [Point and figure](https:\/\/en.wikipedia.org\/wiki\/Point_and_figure_chart \"Point and figure chart\") [Line break](https:\/\/en.wikipedia.org\/wiki\/Line_break_chart \"Line break chart\") |\n| Patterns |   |\n|   |   |\n| [Chart](https:\/\/en.wikipedia.org\/wiki\/Chart_pattern \"Chart pattern\") | [Broadening top](https:\/\/en.wikipedia.org\/wiki\/Broadening_top \"Broadening top\") [Cup and handle](https:\/\/en.wikipedia.org\/wiki\/Cup_and_handle \"Cup and handle\") [Double top and double bottom](https:\/\/en.wikipedia.org\/wiki\/Double_top_and_double_bottom \"Double top and double bottom\") [Flag and pennant](https:\/\/en.wikipedia.org\/wiki\/Flag_and_pennant_patterns \"Flag and pennant patterns\") [Gap](https:\/\/en.wikipedia.org\/wiki\/Gap_\\(chart_pattern\\) \"Gap (chart pattern)\") [Head and shoulders](https:\/\/en.wikipedia.org\/wiki\/Head_and_shoulders_\\(chart_pattern\\) \"Head and shoulders (chart pattern)\") [Island reversal](https:\/\/en.wikipedia.org\/wiki\/Island_reversal \"Island reversal\") [Price channels](https:\/\/en.wikipedia.org\/wiki\/Price_channels \"Price channels\") [Triangle](https:\/\/en.wikipedia.org\/wiki\/Triangle_\\(chart_pattern\\) \"Triangle (chart pattern)\") [Triple top and triple bottom](https:\/\/en.wikipedia.org\/wiki\/Triple_top_and_triple_bottom \"Triple top and triple bottom\") [Wedge pattern](https:\/\/en.wikipedia.org\/wiki\/Wedge_pattern \"Wedge pattern\") |\n| [Candlestick](https:\/\/en.wikipedia.org\/wiki\/Candlestick_pattern \"Candlestick pattern\") |   |\n|   |   |\n| [Simple](https:\/\/en.wikipedia.org\/wiki\/Candlestick_pattern#Simple_patterns \"Candlestick pattern\") | [Doji](https:\/\/en.wikipedia.org\/wiki\/Doji \"Doji\") |\n| [Complex](https:\/\/en.wikipedia.org\/wiki\/Candlestick_pattern#Complex_patterns \"Candlestick pattern\") | [Hikkake pattern](https:\/\/en.wikipedia.org\/wiki\/Hikkake_pattern \"Hikkake pattern\") [Morning star](https:\/\/en.wikipedia.org\/wiki\/Morning_star_\\(candlestick_pattern\\) \"Morning star (candlestick pattern)\") [Three black crows](https:\/\/en.wikipedia.org\/wiki\/Three_black_crows \"Three black crows\") [Three white soldiers](https:\/\/en.wikipedia.org\/wiki\/Three_white_soldiers \"Three white soldiers\") |\n| [Point and figure](https:\/\/en.wikipedia.org\/wiki\/Point_and_figure_chart \"Point and figure chart\") | [Bull trap](https:\/\/en.wikipedia.org\/wiki\/Bull_trap \"Bull trap\") [Bear trap](https:\/\/en.wikipedia.org\/wiki\/Bear_market \"Bear market\") |\n| [Indicators](https:\/\/en.wikipedia.org\/wiki\/Technical_indicator \"Technical indicator\") |   |\n|   |   |\n| [Support & resistance](https:\/\/en.wikipedia.org\/wiki\/Support_and_resistance \"Support and resistance\") | [Fibonacci retracement]() [Pivot point](https:\/\/en.wikipedia.org\/wiki\/Pivot_point_\\(technical_analysis\\) \"Pivot point (technical analysis)\") (PP) |\n| [Trend](https:\/\/en.wikipedia.org\/wiki\/Market_trend \"Market trend\") | [Average directional index](https:\/\/en.wikipedia.org\/wiki\/Average_directional_movement_index \"Average directional movement index\") (A.D.X.) [Commodity channel index](https:\/\/en.wikipedia.org\/wiki\/Commodity_channel_index \"Commodity channel index\") (CCI) [Detrended price oscillator](https:\/\/en.wikipedia.org\/wiki\/Detrended_price_oscillator \"Detrended price oscillator\") (DPO) [Know sure thing oscillator](https:\/\/en.wikipedia.org\/wiki\/KST_oscillator \"KST oscillator\") (KST) [Ichimoku Kinkō Hyō](https:\/\/en.wikipedia.org\/wiki\/Ichimoku_Kink%C5%8D_Hy%C5%8D \"Ichimoku Kinkō Hyō\") [Moving average convergence\/divergence](https:\/\/en.wikipedia.org\/wiki\/MACD \"MACD\") (MACD) [Mass index](https:\/\/en.wikipedia.org\/wiki\/Mass_index \"Mass index\") [Moving average](https:\/\/en.wikipedia.org\/wiki\/Moving_average \"Moving average\") (MA) [Parabolic SAR](https:\/\/en.wikipedia.org\/wiki\/Parabolic_SAR \"Parabolic SAR\") (SAR) [Smart money index](https:\/\/en.wikipedia.org\/wiki\/Smart_money_index \"Smart money index\") (SMI) [Trend line](https:\/\/en.wikipedia.org\/wiki\/Trend_line_\\(technical_analysis\\) \"Trend line (technical analysis)\") [Trix](https:\/\/en.wikipedia.org\/wiki\/Trix_\\(technical_analysis\\) \"Trix (technical analysis)\") [Vortex indicator](https:\/\/en.wikipedia.org\/wiki\/Vortex_indicator \"Vortex indicator\") (VI) |\n| [Momentum](https:\/\/en.wikipedia.org\/wiki\/Momentum_\\(finance\\) \"Momentum (finance)\") | [Money flow index](https:\/\/en.wikipedia.org\/wiki\/Money_flow_index \"Money flow index\") (MFI) [Relative strength index](https:\/\/en.wikipedia.org\/wiki\/Relative_strength_index \"Relative strength index\") (RSI) [Stochastic oscillator](https:\/\/en.wikipedia.org\/wiki\/Stochastic_oscillator \"Stochastic oscillator\") [True strength index](https:\/\/en.wikipedia.org\/wiki\/True_strength_index \"True strength index\") (TSI) [Ultimate oscillator](https:\/\/en.wikipedia.org\/wiki\/Ultimate_oscillator \"Ultimate oscillator\") [Williams %R](https:\/\/en.wikipedia.org\/wiki\/Williams_%25R \"Williams %R\") (%R) |\n| [Volume](https:\/\/en.wikipedia.org\/wiki\/Volume_\\(finance\\) \"Volume (finance)\") | [Accumulation\/distribution line](https:\/\/en.wikipedia.org\/wiki\/Accumulation\/distribution_index \"Accumulation\/distribution index\") [Ease of movement](https:\/\/en.wikipedia.org\/wiki\/Ease_of_movement \"Ease of movement\") (EMV) [Force index](https:\/\/en.wikipedia.org\/wiki\/Force_index \"Force index\") (FI) [Negative volume index](https:\/\/en.wikipedia.org\/wiki\/Negative_volume_index \"Negative volume index\") (NVI) [On-balance volume](https:\/\/en.wikipedia.org\/wiki\/On-balance_volume \"On-balance volume\") (OBV) [Put\/call ratio](https:\/\/en.wikipedia.org\/wiki\/Put\/call_ratio \"Put\/call ratio\") (PCR) [Volume–price trend](https:\/\/en.wikipedia.org\/wiki\/Volume%E2%80%93price_trend \"Volume–price trend\") (VPT) |\n| [Volatility](https:\/\/en.wikipedia.org\/wiki\/Volatility_\\(finance\\) \"Volatility (finance)\") | [Average true range](https:\/\/en.wikipedia.org\/wiki\/Average_true_range \"Average true range\") (ATR) [Bollinger Bands](https:\/\/en.wikipedia.org\/wiki\/Bollinger_Bands \"Bollinger Bands\") (BB) [Donchian channel](https:\/\/en.wikipedia.org\/wiki\/Donchian_channel \"Donchian channel\") [Keltner channel](https:\/\/en.wikipedia.org\/wiki\/Keltner_channel \"Keltner channel\") [CBOE Market Volatility Index](https:\/\/en.wikipedia.org\/wiki\/VIX \"VIX\") (VIX) [Standard deviation](https:\/\/en.wikipedia.org\/wiki\/Standard_deviation \"Standard deviation\") (σ) |\n| [Breadth](https:\/\/en.wikipedia.org\/wiki\/Breadth_of_market \"Breadth of market\") | [Advance–decline line](https:\/\/en.wikipedia.org\/wiki\/Advance%E2%80%93decline_line \"Advance–decline line\") (ADL) [Arms index](https:\/\/en.wikipedia.org\/wiki\/TRIN_\\(finance\\) \"TRIN (finance)\") (TRIN) [McClellan oscillator](https:\/\/en.wikipedia.org\/wiki\/McClellan_oscillator \"McClellan oscillator\") |\n| Other | [Coppock curve](https:\/\/en.wikipedia.org\/wiki\/Coppock_curve \"Coppock curve\") [Ulcer index](https:\/\/en.wikipedia.org\/wiki\/Ulcer_index \"Ulcer index\") |\n| Analysts | [John Bollinger](https:\/\/en.wikipedia.org\/wiki\/John_Bollinger \"John Bollinger\") [Ned Davis](https:\/\/en.wikipedia.org\/wiki\/Ned_Davis_\\(analyst\\) \"Ned Davis (analyst)\") [Charles Dow](https:\/\/en.wikipedia.org\/wiki\/Charles_Dow \"Charles Dow\") [Ralph Nelson Elliott](https:\/\/en.wikipedia.org\/wiki\/Ralph_Nelson_Elliott \"Ralph Nelson Elliott\") [Bob Farrell](https:\/\/en.wikipedia.org\/wiki\/Robert_Farrell_\\(technical_analyst\\) \"Robert Farrell (technical analyst)\") [John Murphy](https:\/\/en.wikipedia.org\/wiki\/John_Murphy_\\(technical_analyst\\) \"John Murphy (technical analyst)\") [Mark Hulbert](https:\/\/en.wikipedia.org\/wiki\/Mark_Hulbert \"Mark Hulbert\") |\n\n![](https:\/\/en.wikipedia.org\/wiki\/Special:CentralAutoLogin\/start?useformat=desktop&type=1x1&usesul3=1)\n\nRetrieved from \"<https:\/\/en.wikipedia.org\/w\/index.php?title=Fibonacci_retracement&oldid=1306163236>\"\n\n[Categories](https:\/\/en.wikipedia.org\/wiki\/Help:Category \"Help:Category\"):\n\n- [Chart overlays](https:\/\/en.wikipedia.org\/wiki\/Category:Chart_overlays \"Category:Chart overlays\")\n- [Fibonacci numbers](https:\/\/en.wikipedia.org\/wiki\/Category:Fibonacci_numbers \"Category:Fibonacci numbers\")\n- [Technical analysis](https:\/\/en.wikipedia.org\/wiki\/Category:Technical_analysis \"Category:Technical analysis\")\n\nHidden categories:\n\n- [Articles with short description](https:\/\/en.wikipedia.org\/wiki\/Category:Articles_with_short_description \"Category:Articles with short description\")\n- [Short description matches Wikidata](https:\/\/en.wikipedia.org\/wiki\/Category:Short_description_matches_Wikidata \"Category:Short description matches Wikidata\")\n- [Use American English from June 2023](https:\/\/en.wikipedia.org\/wiki\/Category:Use_American_English_from_June_2023 \"Category:Use American English from June 2023\")\n- [All Wikipedia articles written in American English](https:\/\/en.wikipedia.org\/wiki\/Category:All_Wikipedia_articles_written_in_American_English \"Category:All Wikipedia articles written in American English\")\n- [Use mdy dates from June 2023](https:\/\/en.wikipedia.org\/wiki\/Category:Use_mdy_dates_from_June_2023 \"Category:Use mdy dates from June 2023\")\n\n- This page was last edited on 16 August 2025, at 08:13 (UTC).\n- Text is available under the [Creative Commons Attribution-ShareAlike 4.0 License](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Text_of_the_Creative_Commons_Attribution-ShareAlike_4.0_International_License \"Wikipedia:Text of the Creative Commons Attribution-ShareAlike 4.0 International License\"); additional terms may apply. By using this site, you agree to the [Terms of Use](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Policy:Terms_of_Use \"foundation:Special:MyLanguage\/Policy:Terms of Use\") and [Privacy Policy](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Policy:Privacy_policy \"foundation:Special:MyLanguage\/Policy:Privacy policy\"). Wikipedia® is a registered trademark of the [Wikimedia Foundation, Inc.](https:\/\/wikimediafoundation.org\/), a non-profit organization.\n\n- [Privacy policy](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Policy:Privacy_policy)\n- [About Wikipedia](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:About)\n- [Disclaimers](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:General_disclaimer)\n- [Contact Wikipedia](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Contact_us)\n- [Legal & safety contacts](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Legal:Wikimedia_Foundation_Legal_and_Safety_Contact_Information)\n- [Code of Conduct](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Policy:Universal_Code_of_Conduct)\n- [Developers](https:\/\/developer.wikimedia.org\/)\n- [Statistics](https:\/\/stats.wikimedia.org\/#\/en.wikipedia.org)\n- [Cookie statement](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Policy:Cookie_statement)\n- [Mobile view](https:\/\/en.wikipedia.org\/w\/index.php?title=Fibonacci_retracement&mobileaction=toggle_view_mobile)\n\n- [![Wikimedia Foundation](https:\/\/en.wikipedia.org\/static\/images\/footer\/wikimedia.svg)](https:\/\/www.wikimedia.org\/)\n- [![Powered by MediaWiki](https:\/\/en.wikipedia.org\/w\/resources\/assets\/mediawiki_compact.svg)](https:\/\/www.mediawiki.org\/)\n\nSearch\n\nToggle the table of contents\n\nFibonacci retracement\n\n13 languages\n\n[Add topic](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement)","attrs_readable_markdown":"From Wikipedia, the free encyclopedia\n\n[![Fibonacci retracement levels shown on the USD\/CAD currency pair](https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/1\/1c\/Fibretracement.png\/250px-Fibretracement.png)](https:\/\/en.wikipedia.org\/wiki\/File:Fibretracement.png)\n\nFibonacci retracement levels shown on the USD\/CAD [currency pair](https:\/\/en.wikipedia.org\/wiki\/Foreign_exchange_market \"Foreign exchange market\"). In this case, price retraced approximately 38.2% of a move down before continuing.\n\nIn [finance](https:\/\/en.wikipedia.org\/wiki\/Finance \"Finance\"), **Fibonacci retracement** is a method of [technical analysis](https:\/\/en.wikipedia.org\/wiki\/Technical_analysis \"Technical analysis\") for determining [support and resistance](https:\/\/en.wikipedia.org\/wiki\/Support_and_resistance \"Support and resistance\") levels.[\\[1\\]](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_note-forbes-1) It is named after the [Fibonacci sequence](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_number \"Fibonacci number\") of numbers,[\\[1\\]](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_note-forbes-1) whose ratios provide price levels to which markets tend to retrace a portion of a move, before a trend continues in the original direction.\n\nA Fibonacci retracement forecast is created by taking two extreme points on a chart and dividing the vertical distance by Fibonacci ratios. 0% is considered to be the start of the retracement, while 100% is a complete reversal to the original price before the move. Horizontal lines are drawn in the chart for these price levels to provide [support and resistance](https:\/\/en.wikipedia.org\/wiki\/Support_and_resistance \"Support and resistance\") levels. Common levels are 23.6%, 38.2%, 50%, and 61.8%. The significance of such levels, however, could not be confirmed by examining the data.[\\[2\\]](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_note-2) Arthur Merrill in *Filtered Waves* determined there is no reliably standard retracement.[\\[3\\]](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_note-Merrill_1977-3)\n\nThe appearance of retracement can be ascribed to [price volatility](https:\/\/en.wikipedia.org\/wiki\/Volatility_\\(finance\\) \"Volatility (finance)\") as described by [Burton Malkiel](https:\/\/en.wikipedia.org\/wiki\/Burton_Malkiel \"Burton Malkiel\"), a [Princeton](https:\/\/en.wikipedia.org\/wiki\/Princeton_University \"Princeton University\") [economist](https:\/\/en.wikipedia.org\/wiki\/Economics \"Economics\") in his book *[A Random Walk Down Wall Street](https:\/\/en.wikipedia.org\/wiki\/A_Random_Walk_Down_Wall_Street \"A Random Walk Down Wall Street\")*.\n\nFibonacci retracement is a popular tool that technical traders use to help identify strategic places for transactions, stop losses or target prices to help traders get in at a good price. The main idea behind the tool is the support and resistance values for a currency pair trend at which the most important breaks or bounces can appear. The retracement concept is used in many indicators such as Tirone levels, Gartley patterns, [Elliott wave principle](https:\/\/en.wikipedia.org\/wiki\/Elliott_wave_principle \"Elliott wave principle\"), and more. After a significant movement in price (be it up or down) the new support and resistance levels are often at these lines.\n\nUnlike [moving averages](https:\/\/en.wikipedia.org\/wiki\/Moving_average \"Moving average\"), Fibonacci retracement levels are static prices. This allows quick and simple identification and allows traders and investors to react when price levels are tested. Because these levels are inflection points, traders expect some type of price action, either a break or a rejection. The 61.8% (0.618) Fibonacci retracement that is often used by [financial analysts](https:\/\/en.wikipedia.org\/wiki\/Financial_analyst \"Financial analyst\") corresponds to the [golden ratio](https:\/\/en.wikipedia.org\/wiki\/Golden_ratio \"Golden ratio\").[\\[1\\]](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_note-forbes-1)\n\nExtensive [backtests](https:\/\/en.wikipedia.org\/wiki\/Backtesting \"Backtesting\") of Fibonacci retracement over thousands of [stocks](https:\/\/en.wikipedia.org\/wiki\/Stock \"Stock\") have shown that the retracements values of 38%, 50%, and 62% had been no likelier to appear than any other of the possible retracement values.[\\[3\\]](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_note-Merrill_1977-3)\n\n- [Elliott wave principle](https:\/\/en.wikipedia.org\/wiki\/Elliott_wave_principle \"Elliott wave principle\")\n- [Trend line](https:\/\/en.wikipedia.org\/wiki\/Trend_line_\\(technical_analysis\\) \"Trend line (technical analysis)\")\n\n1. ^ [***a***](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_ref-forbes_1-0) [***b***](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_ref-forbes_1-1) [***c***](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_ref-forbes_1-2)\n   Aspray, Tom (August 13, 2011). [\"Fibonacci analysis – Master the basics\"](https:\/\/www.forbes.com\/sites\/tomaspray\/2011\/08\/13\/fibonacci-analysis-master-the-basics\/#1da6d16b5a4d). *Forbes*. Retrieved October 24, 2016.\n2. **[^](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_ref-2)**\n   Kempen, René (2016). [\"Fibonaccis Are Human (Made)\"](http:\/\/www.ftaa.org.hk\/Files\/2016.pdf) (PDF). *IFTA Journal*: 4–9\\.\n3. ^ [***a***](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_ref-Merrill_1977_3-0) [***b***](https:\/\/en.wikipedia.org\/wiki\/Fibonacci_retracement#cite_ref-Merrill_1977_3-1)\n   Merrill, Arthur (1977). *Filtered Waves: Basic Theory: a Tool for Stock Market Analysis*. Analysis Press. [ISBN](https:\/\/en.wikipedia.org\/wiki\/ISBN_\\(identifier\\) \"ISBN (identifier)\")\n   \n   [0911894365](https:\/\/en.wikipedia.org\/wiki\/Special:BookSources\/0911894365 \"Special:BookSources\/0911894365\")\n   \n   .","meta_canonical":null}

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Boilerpipe Text	From Wikipedia, the free encyclopedia Fibonacci retracement levels shown on the USD/CAD currency pair . In this case, price retraced approximately 38.2% of a move down before continuing. In finance , Fibonacci retracement is a method of technical analysis for determining support and resistance levels. [ 1 ] It is named after the Fibonacci sequence of numbers, [ 1 ] whose ratios provide price levels to which markets tend to retrace a portion of a move, before a trend continues in the original direction. A Fibonacci retracement forecast is created by taking two extreme points on a chart and dividing the vertical distance by Fibonacci ratios. 0% is considered to be the start of the retracement, while 100% is a complete reversal to the original price before the move. Horizontal lines are drawn in the chart for these price levels to provide support and resistance levels. Common levels are 23.6%, 38.2%, 50%, and 61.8%. The significance of such levels, however, could not be confirmed by examining the data. [ 2 ] Arthur Merrill in Filtered Waves determined there is no reliably standard retracement. [ 3 ] The appearance of retracement can be ascribed to price volatility as described by Burton Malkiel , a Princeton economist in his book A Random Walk Down Wall Street . Fibonacci retracement is a popular tool that technical traders use to help identify strategic places for transactions, stop losses or target prices to help traders get in at a good price. The main idea behind the tool is the support and resistance values for a currency pair trend at which the most important breaks or bounces can appear. The retracement concept is used in many indicators such as Tirone levels, Gartley patterns, Elliott wave principle , and more. After a significant movement in price (be it up or down) the new support and resistance levels are often at these lines. Unlike moving averages , Fibonacci retracement levels are static prices. This allows quick and simple identification and allows traders and investors to react when price levels are tested. Because these levels are inflection points, traders expect some type of price action, either a break or a rejection. The 61.8% (0.618) Fibonacci retracement that is often used by financial analysts corresponds to the golden ratio . [ 1 ] Extensive backtests of Fibonacci retracement over thousands of stocks have shown that the retracements values of 38%, 50%, and 62% had been no likelier to appear than any other of the possible retracement values. [ 3 ] Elliott wave principle Trend line ^ a b c Aspray, Tom (August 13, 2011). "Fibonacci analysis – Master the basics" . Forbes . Retrieved October 24, 2016 . ^ Kempen, René (2016). "Fibonaccis Are Human (Made)" (PDF) . IFTA Journal : 4– 9. ^ a b Merrill, Arthur (1977). Filtered Waves: Basic Theory: a Tool for Stock Market Analysis . Analysis Press. ISBN 0911894365 .
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[o]") ## Contents move to sidebar hide - [(Top)](https://en.wikipedia.org/wiki/Fibonacci_retracement) - [1 Common uses](https://en.wikipedia.org/wiki/Fibonacci_retracement#Common_uses) - [2 Criticism](https://en.wikipedia.org/wiki/Fibonacci_retracement#Criticism) - [3 See also](https://en.wikipedia.org/wiki/Fibonacci_retracement#See_also) - [4 References](https://en.wikipedia.org/wiki/Fibonacci_retracement#References) Toggle the table of contents # Fibonacci retracement 13 languages - [العربية](https://ar.wikipedia.org/wiki/%D8%AA%D8%B5%D8%AD%D9%8A%D8%AD_%D9%81%D9%8A%D8%A8%D9%88%D9%86%D8%A7%D8%AA%D8%B4%D9%8A "تصحيح فيبوناتشي – Arabic") - [भोजपुरी](https://bh.wikipedia.org/wiki/%E0%A4%AB%E0%A4%BF%E0%A4%AC%E0%A5%8B%E0%A4%A8%E0%A4%BE%E0%A4%9A%E0%A5%80_%E0%A4%B0%E0%A5%80%E0%A4%9F%E0%A5%8D%E0%A4%B0%E0%A5%87%E0%A4%B8%E0%A4%AE%E0%A5%87%E0%A4%82%E0%A4%9F "फिबोनाची रीट्रेसमेंट – Bhojpuri") - [Čeština](https://cs.wikipedia.org/wiki/Fibonacciho_retracement "Fibonacciho retracement – Czech") - [Deutsch](https://de.wikipedia.org/wiki/Fibonacci-Retracement "Fibonacci-Retracement – German") - 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In this case, price retraced approximately 38.2% of a move down before continuing. In [finance](https://en.wikipedia.org/wiki/Finance "Finance"), Fibonacci retracement is a method of [technical analysis](https://en.wikipedia.org/wiki/Technical_analysis "Technical analysis") for determining [support and resistance](https://en.wikipedia.org/wiki/Support_and_resistance "Support and resistance") levels.[\[1\]](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_note-forbes-1) It is named after the [Fibonacci sequence](https://en.wikipedia.org/wiki/Fibonacci_number "Fibonacci number") of numbers,[\[1\]](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_note-forbes-1) whose ratios provide price levels to which markets tend to retrace a portion of a move, before a trend continues in the original direction. A Fibonacci retracement forecast is created by taking two extreme points on a chart and dividing the vertical distance by Fibonacci ratios. 0% is considered to be the start of the retracement, while 100% is a complete reversal to the original price before the move. Horizontal lines are drawn in the chart for these price levels to provide [support and resistance](https://en.wikipedia.org/wiki/Support_and_resistance "Support and resistance") levels. Common levels are 23.6%, 38.2%, 50%, and 61.8%. The significance of such levels, however, could not be confirmed by examining the data.[\[2\]](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_note-2) Arthur Merrill in Filtered Waves determined there is no reliably standard retracement.[\[3\]](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_note-Merrill_1977-3) The appearance of retracement can be ascribed to [price volatility](https://en.wikipedia.org/wiki/Volatility_\(finance\) "Volatility (finance)") as described by [Burton Malkiel](https://en.wikipedia.org/wiki/Burton_Malkiel "Burton Malkiel"), a [Princeton](https://en.wikipedia.org/wiki/Princeton_University "Princeton University") [economist](https://en.wikipedia.org/wiki/Economics "Economics") in his book [A Random Walk Down Wall Street](https://en.wikipedia.org/wiki/A_Random_Walk_Down_Wall_Street "A Random Walk Down Wall Street"). ## Common uses \[[edit](https://en.wikipedia.org/w/index.php?title=Fibonacci_retracement&action=edit&section=1 "Edit section: Common uses")\] Fibonacci retracement is a popular tool that technical traders use to help identify strategic places for transactions, stop losses or target prices to help traders get in at a good price. The main idea behind the tool is the support and resistance values for a currency pair trend at which the most important breaks or bounces can appear. The retracement concept is used in many indicators such as Tirone levels, Gartley patterns, [Elliott wave principle](https://en.wikipedia.org/wiki/Elliott_wave_principle "Elliott wave principle"), and more. After a significant movement in price (be it up or down) the new support and resistance levels are often at these lines. Unlike [moving averages](https://en.wikipedia.org/wiki/Moving_average "Moving average"), Fibonacci retracement levels are static prices. This allows quick and simple identification and allows traders and investors to react when price levels are tested. Because these levels are inflection points, traders expect some type of price action, either a break or a rejection. The 61.8% (0.618) Fibonacci retracement that is often used by [financial analysts](https://en.wikipedia.org/wiki/Financial_analyst "Financial analyst") corresponds to the [golden ratio](https://en.wikipedia.org/wiki/Golden_ratio "Golden ratio").[\[1\]](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_note-forbes-1) ## Criticism \[[edit](https://en.wikipedia.org/w/index.php?title=Fibonacci_retracement&action=edit&section=2 "Edit section: Criticism")\] Extensive [backtests](https://en.wikipedia.org/wiki/Backtesting "Backtesting") of Fibonacci retracement over thousands of [stocks](https://en.wikipedia.org/wiki/Stock "Stock") have shown that the retracements values of 38%, 50%, and 62% had been no likelier to appear than any other of the possible retracement values.[\[3\]](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_note-Merrill_1977-3) ## See also \[[edit](https://en.wikipedia.org/w/index.php?title=Fibonacci_retracement&action=edit&section=3 "Edit section: See also")\] - [Elliott wave principle](https://en.wikipedia.org/wiki/Elliott_wave_principle "Elliott wave principle") - [Trend line](https://en.wikipedia.org/wiki/Trend_line_\(technical_analysis\) "Trend line (technical analysis)") ## References \[[edit](https://en.wikipedia.org/w/index.php?title=Fibonacci_retracement&action=edit&section=4 "Edit section: References")\] 1. ^ [*a](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_ref-forbes_1-0) [b](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_ref-forbes_1-1) [c](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_ref-forbes_1-2) Aspray, Tom (August 13, 2011). ["Fibonacci analysis – Master the basics"](https://www.forbes.com/sites/tomaspray/2011/08/13/fibonacci-analysis-master-the-basics/#1da6d16b5a4d). Forbes. Retrieved October 24, 2016. 2. [^](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_ref-2)* Kempen, René (2016). ["Fibonaccis Are Human (Made)"](http://www.ftaa.org.hk/Files/2016.pdf) (PDF). IFTA Journal: 4–9\. 3. ^ [*a](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_ref-Merrill_1977_3-0) [b](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_ref-Merrill_1977_3-1) Merrill, Arthur (1977). Filtered Waves: Basic Theory: a Tool for Stock Market Analysis*. Analysis Press. [ISBN](https://en.wikipedia.org/wiki/ISBN_\(identifier\) "ISBN (identifier)") [0911894365](https://en.wikipedia.org/wiki/Special:BookSources/0911894365 "Special:BookSources/0911894365") . \| [v](https://en.wikipedia.org/wiki/Template:Technical_analysis "Template:Technical analysis") [t](https://en.wikipedia.org/wiki/Template_talk:Technical_analysis "Template talk:Technical analysis") [e](https://en.wikipedia.org/wiki/Special:EditPage/Template:Technical_analysis "Special:EditPage/Template:Technical analysis")[Technical analysis](https://en.wikipedia.org/wiki/Technical_analysis "Technical analysis") \| \| \|---\|---\| \| Concepts \| [Breakout](https://en.wikipedia.org/wiki/Breakout_\(technical_analysis\) "Breakout (technical analysis)") [Dead cat bounce](https://en.wikipedia.org/wiki/Dead_cat_bounce "Dead cat bounce") [Dow theory](https://en.wikipedia.org/wiki/Dow_theory "Dow theory") [Elliott wave principle](https://en.wikipedia.org/wiki/Elliott_wave_principle "Elliott wave principle") [Market trend](https://en.wikipedia.org/wiki/Market_trend "Market trend") \| \| Charts \| [Candlestick](https://en.wikipedia.org/wiki/Candlestick_chart "Candlestick chart") [Renko](https://en.wikipedia.org/wiki/Renko_chart "Renko chart") [Kagi](https://en.wikipedia.org/wiki/Kagi_chart "Kagi chart") [Line](https://en.wikipedia.org/wiki/Line_chart "Line chart") [Open-high-low-close](https://en.wikipedia.org/wiki/Open-high-low-close_chart "Open-high-low-close chart") [Point and figure](https://en.wikipedia.org/wiki/Point_and_figure_chart "Point and figure chart") [Line break](https://en.wikipedia.org/wiki/Line_break_chart "Line break chart") \| \| Patterns \| \| \| \| \| \| [Chart](https://en.wikipedia.org/wiki/Chart_pattern "Chart pattern") \| [Broadening top](https://en.wikipedia.org/wiki/Broadening_top "Broadening top") [Cup and handle](https://en.wikipedia.org/wiki/Cup_and_handle "Cup and handle") [Double top and double bottom](https://en.wikipedia.org/wiki/Double_top_and_double_bottom "Double top and double bottom") [Flag and pennant](https://en.wikipedia.org/wiki/Flag_and_pennant_patterns "Flag and pennant patterns") [Gap](https://en.wikipedia.org/wiki/Gap_\(chart_pattern\) "Gap (chart pattern)") [Head and shoulders](https://en.wikipedia.org/wiki/Head_and_shoulders_\(chart_pattern\) "Head and shoulders (chart pattern)") [Island reversal](https://en.wikipedia.org/wiki/Island_reversal "Island reversal") [Price channels](https://en.wikipedia.org/wiki/Price_channels "Price channels") [Triangle](https://en.wikipedia.org/wiki/Triangle_\(chart_pattern\) "Triangle (chart pattern)") [Triple top and triple bottom](https://en.wikipedia.org/wiki/Triple_top_and_triple_bottom "Triple top and triple bottom") [Wedge pattern](https://en.wikipedia.org/wiki/Wedge_pattern "Wedge pattern") \| \| [Candlestick](https://en.wikipedia.org/wiki/Candlestick_pattern "Candlestick pattern") \| \| \| \| \| \| [Simple](https://en.wikipedia.org/wiki/Candlestick_pattern#Simple_patterns "Candlestick pattern") \| [Doji](https://en.wikipedia.org/wiki/Doji "Doji") \| \| [Complex](https://en.wikipedia.org/wiki/Candlestick_pattern#Complex_patterns "Candlestick pattern") \| [Hikkake pattern](https://en.wikipedia.org/wiki/Hikkake_pattern "Hikkake pattern") [Morning star](https://en.wikipedia.org/wiki/Morning_star_\(candlestick_pattern\) "Morning star (candlestick pattern)") [Three black crows](https://en.wikipedia.org/wiki/Three_black_crows "Three black crows") [Three white soldiers](https://en.wikipedia.org/wiki/Three_white_soldiers "Three white soldiers") \| \| [Point and figure](https://en.wikipedia.org/wiki/Point_and_figure_chart "Point and figure chart") \| [Bull trap](https://en.wikipedia.org/wiki/Bull_trap "Bull trap") [Bear trap](https://en.wikipedia.org/wiki/Bear_market "Bear market") \| \| [Indicators](https://en.wikipedia.org/wiki/Technical_indicator "Technical indicator") \| \| \| \| \| \| [Support & resistance](https://en.wikipedia.org/wiki/Support_and_resistance "Support and resistance") \| [Fibonacci retracement]() [Pivot point](https://en.wikipedia.org/wiki/Pivot_point_\(technical_analysis\) "Pivot point (technical analysis)") (PP) \| \| [Trend](https://en.wikipedia.org/wiki/Market_trend "Market trend") \| [Average directional index](https://en.wikipedia.org/wiki/Average_directional_movement_index "Average directional movement index") (A.D.X.) [Commodity channel index](https://en.wikipedia.org/wiki/Commodity_channel_index "Commodity channel index") (CCI) [Detrended price oscillator](https://en.wikipedia.org/wiki/Detrended_price_oscillator "Detrended price oscillator") (DPO) [Know sure thing oscillator](https://en.wikipedia.org/wiki/KST_oscillator "KST oscillator") (KST) [Ichimoku Kinkō Hyō](https://en.wikipedia.org/wiki/Ichimoku_Kink%C5%8D_Hy%C5%8D "Ichimoku Kinkō Hyō") [Moving average convergence/divergence](https://en.wikipedia.org/wiki/MACD "MACD") (MACD) [Mass index](https://en.wikipedia.org/wiki/Mass_index "Mass index") [Moving average](https://en.wikipedia.org/wiki/Moving_average "Moving average") (MA) [Parabolic SAR](https://en.wikipedia.org/wiki/Parabolic_SAR "Parabolic SAR") (SAR) [Smart money index](https://en.wikipedia.org/wiki/Smart_money_index "Smart money index") (SMI) [Trend line](https://en.wikipedia.org/wiki/Trend_line_\(technical_analysis\) "Trend line (technical analysis)") [Trix](https://en.wikipedia.org/wiki/Trix_\(technical_analysis\) "Trix (technical analysis)") [Vortex indicator](https://en.wikipedia.org/wiki/Vortex_indicator "Vortex indicator") (VI) \| \| [Momentum](https://en.wikipedia.org/wiki/Momentum_\(finance\) "Momentum (finance)") \| [Money flow index](https://en.wikipedia.org/wiki/Money_flow_index "Money flow index") (MFI) [Relative strength index](https://en.wikipedia.org/wiki/Relative_strength_index "Relative strength index") (RSI) [Stochastic oscillator](https://en.wikipedia.org/wiki/Stochastic_oscillator "Stochastic oscillator") [True strength index](https://en.wikipedia.org/wiki/True_strength_index "True strength index") (TSI) [Ultimate oscillator](https://en.wikipedia.org/wiki/Ultimate_oscillator "Ultimate oscillator") [Williams %R](https://en.wikipedia.org/wiki/Williams_%25R "Williams %R") (%R) \| \| [Volume](https://en.wikipedia.org/wiki/Volume_\(finance\) "Volume (finance)") \| [Accumulation/distribution line](https://en.wikipedia.org/wiki/Accumulation/distribution_index "Accumulation/distribution index") [Ease of movement](https://en.wikipedia.org/wiki/Ease_of_movement "Ease of movement") (EMV) [Force index](https://en.wikipedia.org/wiki/Force_index "Force index") (FI) [Negative volume index](https://en.wikipedia.org/wiki/Negative_volume_index "Negative volume index") (NVI) [On-balance volume](https://en.wikipedia.org/wiki/On-balance_volume "On-balance volume") (OBV) [Put/call ratio](https://en.wikipedia.org/wiki/Put/call_ratio "Put/call ratio") (PCR) [Volume–price trend](https://en.wikipedia.org/wiki/Volume%E2%80%93price_trend "Volume–price trend") (VPT) \| \| [Volatility](https://en.wikipedia.org/wiki/Volatility_\(finance\) "Volatility (finance)") \| [Average true range](https://en.wikipedia.org/wiki/Average_true_range "Average true range") (ATR) [Bollinger Bands](https://en.wikipedia.org/wiki/Bollinger_Bands "Bollinger Bands") (BB) [Donchian channel](https://en.wikipedia.org/wiki/Donchian_channel "Donchian channel") [Keltner channel](https://en.wikipedia.org/wiki/Keltner_channel "Keltner channel") [CBOE Market Volatility Index](https://en.wikipedia.org/wiki/VIX "VIX") (VIX) [Standard deviation](https://en.wikipedia.org/wiki/Standard_deviation "Standard deviation") (σ) \| \| [Breadth](https://en.wikipedia.org/wiki/Breadth_of_market "Breadth of market") \| [Advance–decline line](https://en.wikipedia.org/wiki/Advance%E2%80%93decline_line "Advance–decline line") (ADL) [Arms index](https://en.wikipedia.org/wiki/TRIN_\(finance\) "TRIN (finance)") (TRIN) [McClellan oscillator](https://en.wikipedia.org/wiki/McClellan_oscillator "McClellan oscillator") \| \| Other \| [Coppock curve](https://en.wikipedia.org/wiki/Coppock_curve "Coppock curve") [Ulcer index](https://en.wikipedia.org/wiki/Ulcer_index "Ulcer index") \| \| Analysts \| [John Bollinger](https://en.wikipedia.org/wiki/John_Bollinger "John Bollinger") [Ned Davis](https://en.wikipedia.org/wiki/Ned_Davis_\(analyst\) "Ned Davis (analyst)") [Charles Dow](https://en.wikipedia.org/wiki/Charles_Dow "Charles Dow") [Ralph Nelson Elliott](https://en.wikipedia.org/wiki/Ralph_Nelson_Elliott "Ralph Nelson Elliott") [Bob Farrell](https://en.wikipedia.org/wiki/Robert_Farrell_\(technical_analyst\) "Robert Farrell (technical analyst)") [John Murphy](https://en.wikipedia.org/wiki/John_Murphy_\(technical_analyst\) "John Murphy (technical analyst)") [Mark Hulbert](https://en.wikipedia.org/wiki/Mark_Hulbert "Mark Hulbert") \| ![](https://en.wikipedia.org/wiki/Special:CentralAutoLogin/start?useformat=desktop&type=1x1&usesul3=1) Retrieved from "<https://en.wikipedia.org/w/index.php?title=Fibonacci_retracement&oldid=1306163236>" [Categories](https://en.wikipedia.org/wiki/Help:Category "Help:Category"): - 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Readable Markdown	From Wikipedia, the free encyclopedia [![Fibonacci retracement levels shown on the USD/CAD currency pair](https://upload.wikimedia.org/wikipedia/commons/thumb/1/1c/Fibretracement.png/250px-Fibretracement.png)](https://en.wikipedia.org/wiki/File:Fibretracement.png) Fibonacci retracement levels shown on the USD/CAD [currency pair](https://en.wikipedia.org/wiki/Foreign_exchange_market "Foreign exchange market"). In this case, price retraced approximately 38.2% of a move down before continuing. In [finance](https://en.wikipedia.org/wiki/Finance "Finance"), Fibonacci retracement is a method of [technical analysis](https://en.wikipedia.org/wiki/Technical_analysis "Technical analysis") for determining [support and resistance](https://en.wikipedia.org/wiki/Support_and_resistance "Support and resistance") levels.[\[1\]](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_note-forbes-1) It is named after the [Fibonacci sequence](https://en.wikipedia.org/wiki/Fibonacci_number "Fibonacci number") of numbers,[\[1\]](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_note-forbes-1) whose ratios provide price levels to which markets tend to retrace a portion of a move, before a trend continues in the original direction. A Fibonacci retracement forecast is created by taking two extreme points on a chart and dividing the vertical distance by Fibonacci ratios. 0% is considered to be the start of the retracement, while 100% is a complete reversal to the original price before the move. Horizontal lines are drawn in the chart for these price levels to provide [support and resistance](https://en.wikipedia.org/wiki/Support_and_resistance "Support and resistance") levels. Common levels are 23.6%, 38.2%, 50%, and 61.8%. The significance of such levels, however, could not be confirmed by examining the data.[\[2\]](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_note-2) Arthur Merrill in Filtered Waves determined there is no reliably standard retracement.[\[3\]](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_note-Merrill_1977-3) The appearance of retracement can be ascribed to [price volatility](https://en.wikipedia.org/wiki/Volatility_\(finance\) "Volatility (finance)") as described by [Burton Malkiel](https://en.wikipedia.org/wiki/Burton_Malkiel "Burton Malkiel"), a [Princeton](https://en.wikipedia.org/wiki/Princeton_University "Princeton University") [economist](https://en.wikipedia.org/wiki/Economics "Economics") in his book [A Random Walk Down Wall Street](https://en.wikipedia.org/wiki/A_Random_Walk_Down_Wall_Street "A Random Walk Down Wall Street"). Fibonacci retracement is a popular tool that technical traders use to help identify strategic places for transactions, stop losses or target prices to help traders get in at a good price. The main idea behind the tool is the support and resistance values for a currency pair trend at which the most important breaks or bounces can appear. The retracement concept is used in many indicators such as Tirone levels, Gartley patterns, [Elliott wave principle](https://en.wikipedia.org/wiki/Elliott_wave_principle "Elliott wave principle"), and more. After a significant movement in price (be it up or down) the new support and resistance levels are often at these lines. Unlike [moving averages](https://en.wikipedia.org/wiki/Moving_average "Moving average"), Fibonacci retracement levels are static prices. This allows quick and simple identification and allows traders and investors to react when price levels are tested. Because these levels are inflection points, traders expect some type of price action, either a break or a rejection. The 61.8% (0.618) Fibonacci retracement that is often used by [financial analysts](https://en.wikipedia.org/wiki/Financial_analyst "Financial analyst") corresponds to the [golden ratio](https://en.wikipedia.org/wiki/Golden_ratio "Golden ratio").[\[1\]](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_note-forbes-1) Extensive [backtests](https://en.wikipedia.org/wiki/Backtesting "Backtesting") of Fibonacci retracement over thousands of [stocks](https://en.wikipedia.org/wiki/Stock "Stock") have shown that the retracements values of 38%, 50%, and 62% had been no likelier to appear than any other of the possible retracement values.[\[3\]](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_note-Merrill_1977-3) - [Elliott wave principle](https://en.wikipedia.org/wiki/Elliott_wave_principle "Elliott wave principle") - [Trend line](https://en.wikipedia.org/wiki/Trend_line_\(technical_analysis\) "Trend line (technical analysis)") 1. ^ [*a](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_ref-forbes_1-0) [b](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_ref-forbes_1-1) [c](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_ref-forbes_1-2) Aspray, Tom (August 13, 2011). ["Fibonacci analysis – Master the basics"](https://www.forbes.com/sites/tomaspray/2011/08/13/fibonacci-analysis-master-the-basics/#1da6d16b5a4d). Forbes. Retrieved October 24, 2016. 2. [^](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_ref-2)* Kempen, René (2016). ["Fibonaccis Are Human (Made)"](http://www.ftaa.org.hk/Files/2016.pdf) (PDF). IFTA Journal: 4–9\. 3. ^ [*a](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_ref-Merrill_1977_3-0) [b](https://en.wikipedia.org/wiki/Fibonacci_retracement#cite_ref-Merrill_1977_3-1) Merrill, Arthur (1977). Filtered Waves: Basic Theory: a Tool for Stock Market Analysis*. Analysis Press. [ISBN](https://en.wikipedia.org/wiki/ISBN_\(identifier\) "ISBN (identifier)") [0911894365](https://en.wikipedia.org/wiki/Special:BookSources/0911894365 "Special:BookSources/0911894365") .
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