Fibonacci retracement is a forex analysis tool that many traders rely on. Whether it's a new or experienced trader, as the main analytical tool or just an addition, Fibonacci is almost always in the forex trading device
Fibonacci retracement is not a technical indicator ready to install. Because it is only a forex analysis tool, installing it on a chart requires a separate measurement, the results of which can be subjective or different for each trader. That's because, traders need to find their own swing points (swings) prices that can be used as a benchmark for withdrawal of Fibonacci lines.
In fact, a trader needs to look at the direction of the price trend before installing Fibonacci. If the price is uptrend, then the Fibonacci Retracement line is pulled from swing low to swing high.