✅ How to use the Fibonacci tool in trading?

🔶What is the Fibonacci tool in trading? The Fibonacci tool is one of the most important analytical tools in the world of trading that is used to analyze markets#EarnFreeCrypto2024 .

🔶The tool is named after the mathematician Fibonacci, who invented it, and since this tool was invented, it has been one of the best favorite tools in the world of trading. The tool is used to determine buying points at the time of an uptrend at which the price can be entered into when the price falls. The tool can also be used vice versa at the time of a downtrend in order to determine the points at which the price can rise and undergo an upward correction before falling again.

🔶 Always remember that in an upward trend, the price always forms one peak after another and rarely forms a bottom, and even when the bottom is formed, it is at a high point. The end of the uptrend occurs when the price fails to form a new high. As for the downtrend, it is characterized by the price always falling, forming one bottom after another, and failing to break the previous peaks or even reaching them and closing there.