i want to learn forex trading.

Then, for downtrends, click on the Swing High and drag the cursor to the most recent Swing Low.

For uptrends, do the opposite. Click on the Swing Low and drag the cursor to the most recent Swing High.

Got that? Now, let’s take a look at some examples on how to apply Fibonacci retracements levels in the markets.

Here we plotted the Fibonacci retracement levels by clicking on the Swing Low at .6955 on April 20 and dragging the cursor to the Swing High at .8264 on June 3.

Tada! The software magically shows you the retracement levels.As you can see from the chart, forex trade in pak

the Fibonacci retracement levels were .7955 (23.6%), .7764 (38.2%), .7609 (50.0%), .7454 (61.8%), and .7263 (76.4%).

the expectation is that if AUD/USD retraces from the recent high, it will find support at one of those Fibonacci retracement levels because

traders will be placing buy orders at these levels as price pulls back.Now, let’s look at what happened after the Swing High occurred.

Price pulled back right through the 23.6% level and continued to shoot down over the next couple of weeks. It even tested the 38.2% level but was unable to close below it.

Later on, around July 14, the market resumed its upward move and eventually broke through the swing high. Clearly, buying at the 38.2% Fibonacci level would have been a profitable long term trade!

As you can see, we found our Swing High at 1.4195 on January 26 and our Swing Low at 1.3854 a few days later on February 2.

The retracement levels are 1.3933 (23.6%), 1.3983 (38.2%), 1.4023 (50.0%), 1.4064 (61.8%) and 1.4114 (76.4%).The expectation for a downtrend is that if price retraces from this low, i

t will encounter resistance at one of the Fibonacci levels because traders will be ready with sell orders there.et’s take a look at what happened next.

Yowza, isn’t that a thing of beauty?!

The market did try to rally, stalled below the 38.2% level for a bit before testing the 50.0% level.

If you had some orders either at the 38.2% or 50.0% levels, you would’ve made some mad pips on that trade.

In these two examples, we see that price found some temporary