Above one day time interval Candlestick chart represents data of GBP/USD currency pair and also you can see there most popular fibonacci price action tool drawn from lowest point to highest point of the chart. Italian mathematician Leonardo Fibonacci found this amazing fibonacci series. Using this amazing tools, traders trade on fibonacci retracement and extension. Fibonacci retracements and extensions are among the “invisible” levels of support and resistance. Fibonacci retracement levels are those that are lower than the 100% of a price swing, while extensions are those
that are above 100%. Fibonacci levels are used as support or resistance. All Market react and respect fibonacci levels that’s why this is the most popular tool among profitable trader. If you apply fibonacci level with candlestick psychology then you can find some strongest setup in any market for long term and also for short term investment.