how do you apply fibonacci retracement levels in a chart 
as one of the most common technical trading strategies a trader could use a fibonacci retracement level to indicate where they would enter a trade for instance a trader notices that after significant momentum a stock has declined 38 2 as the stock begins to face an upward trend they decide to enter the trade because the stock reached a fibonacci level it is deemed a good time to buy with the trader speculating that the stock will then retrace or recover its recent losses 