Have you used Fibonacci Retracement in your trading how has it helped you to identify potential areas of support and resistance? It is so complicated for me.
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i’ll be interested to see the replies below mine
i’ve never used it, myself
i’ve also never seen any objective evidence other than anecdotal (cherry-picked examples) that it provides any overall value or benefit at all
but i accept that large numbers of people believe in it
not nearly as many as those who believe in astrology, though
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Thank you for your response.I understand that there are different opinions on the effectiveness of this tool. I am still exploring different trading strategies and tools, including Fibonacci Retracement, to find what works best for me. I agree that doing my own research and analysis is important before making any trading decisions. 
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The fact that the tool itself have many different levels of potential reversal points (23 point whatever, 38 point whatever blah blah) is enough to question its reliability. The market reverses when the flow of orders change. Not when it reaches a certain labelled line of a tool that you subjectively draw on your chart.
In short, I never used it. 
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It’s understandable that it may not work for everyone, and the market ultimately depends on the flow of orders.
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