Fibonacci retracements: 23.6%, 38.2%, 50.0%, 61.8%, 100%. Fibonacci started from the principle that any upward or downward trend always has an end and the fact that a movement is not linear.
So, an upward trend is marked by phases of corrections and a downward trend by phases of rebound. Those corrections or rebounds are called retracements.
Retracements will allow determining of support zones in the case of a bullish trend and resistances zones in a bearish trend. Read More about Learn Fibonacci Levels