Fibonacci Retracement and Extensions Video Tutorial What is the Fibonacci Numbers and the Golden Ratio? Leonardo Pisano Bogolla is the founding father of the Fibonacci sequence.

After price pulls back and bounces from one of these levels, price usually moves up to one of four major Fibonacci extension levels; 0.618, 1.000, 1.27, and 1.618.

Draw Fibonacci retracement and extension grids to identify hidden support and resistance that may come into play during the life of a trade.

While Fibonacci ratios are often used to identify retracements, they are also very useful in finding price targets when applied as an extension to the price trend.

Fibonacci Price Extensions can be seen as the blue horizontal levels marked on the chart with the Fibonacci Time Extensions shown by the red and blue vertical lines.