Fibonaccihotkey FTwo clicks — the high and the low of the move (either order)

The classic Fibonacci ladder between a high and a low — how far a pullback has come, as a fraction of the move it is retracing, each level labelled with ratio and price.

Click the two ends of a completed move and the tool draws horizontal levels at the Fibonacci ratios of that move — 23.6%, 38.2%, 50%, 61.8%, 78.6% — plus extensions past it. The premise: pullbacks often end at consistent fractions of the leg they retrace, and 38.2–61.8% is the region most retracements historically resolve in (the chart shades it).

Arm it (F), click the swing high, click the swing low — or the reverse; the ladder mirrors correctly either way. Levels run rightward from the move, never back across history the drawing knows nothing about, and each is labelled with both the ratio and the exact price.

Right-clicking near a drawing removes it; clicking it selects it for the ✕ chip.

Universal mechanics: every tool is single-shot (it disarms after each drawing — the pin beside ✏ Draw re-arms it in one click), Esc cancels mid-drawing, clicking a finished drawing selects it for the ✕ Remove chip, and drawings persist per symbol, anchored to their candles.

A pullback holding the shaded 38.2–61.8% band keeps the prior move's structure intact; losing 78.6% usually means the "pullback" is a reversal wearing a costume. Levels that coincide with something independent — an old consolidation, a moving average, a volume shelf — carry more weight than a ratio alone.

The retracement band under a strong move is where premium sellers hunt: the stock is cheaper, implied volatility is usually richer, and the level gives the strike a reference. A put strike below the 61.8% of a healthy up-leg sits under the level where that pullback thesis officially fails — which is a statement about where the strike sits, not a forecast.

The Elliott zones panel computes its own retracement bands from the wave count; drawing yours off a different swing is a quick second opinion.

Like everything in this guide, these are descriptions of conditions and reference levels — context for your own decisions, not instructions to trade.