# Fibonacci Trading

4 modules 1 h 30 min Beginner to intermediate Free with an account

How to use Fibonacci retracements, extensions and clusters in ThinkOrSwim to find support, resistance and price targets, and how to pick the swing high and low to draw from.

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## What you'll learn

- The ThinkOrSwim retracement tool, and the 38.2%, 50% and 61.8% levels

- Extension levels such as 127.2% and 161.8% for price targets

- Clusters: where Fibonacci levels from several swings or timeframes line up

- How to pick the right swing high and low, and the common mistakes

## Modules

4 modules, 1 h 30 min in all, all free with an account.

- 01

### Fibonacci Sequence in Trading

The Fibonacci numbers, the golden ratio, and how traders came to use them.12 min

- 02

### Fibonacci Retracements Tool

Drawing retracements in ThinkOrSwim, the key levels, and entries and exits.30 min

- 03

### Fibonacci Extensions Tool

Extension levels for price targets and trend continuation.22 min

- 04

### Fibonacci Clusters

Combine levels across timeframes into confluence zones.26 min

## Set up the Fibonacci tool in ThinkOrSwim

- Open the drawing toolsIn the chart toolbar, go to Drawings, then Drawing Tools.

- Pick the Fibonacci toolChoose Fibonacci Retracements or Fibonacci Extensions.

- Add the levelsRight-click the drawing and choose Properties. Retracements: 0, 23.6, 38.2, 50, 61.8, 78.6, 100. Extensions: 127.2, 161.8, 261.8, 423.6.

- Color the levelsFor example, 50% and 61.8% in green, 38.2% in blue, 78.6% in red.

- Save as defaultRight-click and choose Save as default to keep the settings.

## Questions

Is the course free?

Yes. All four modules are free with an account.

Which Fibonacci levels does it cover?

Retracements at 23.6%, 38.2%, 50%, 61.8% and 78.6%, and extensions at 127.2%, 161.8%, 261.8% and 423.6%.

Do I need any indicators?

No. The course uses the Fibonacci drawing tools built into ThinkOrSwim.

## Other courses

[The Squeeze Course: 19 modules · 4 h 45 min · Included with the Bundle](https://tosindicators.com/squeeze-course)[V-Shaped Reversals: 7 modules · 52 min · Free](https://tosindicators.com/v-shaped-reversal)[Earnings Trading: 1 video · 54 min · Free](https://tosindicators.com/earnings)

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