the Fibonacci levels report on edgeful calculates Fibonacci retracements for green (bullish) and red (bearish) candles by analyzing daily price ranges and tracking how often the next day's price touches each level (0.236, 0.382, 0.5, 0.618, 0.786).

this is one of the 150+ reports available on the edgeful platform. here's how it works, what the data shows, and how traders use it.

table of contents

• what the fibonacci levels report measures
• how the calculation works
• available subreports
• how traders use fibonacci levels data
• combining fibonacci levels with other reports
• key takeaways

what the fibonacci levels report measures

the Fibonacci levels report calculates Fibonacci retracements for green (bullish) and red (bearish) candles by analyzing daily price ranges and tracking how often the next day's price touches each level (0.236, 0.382, 0.5, 0.618, 0.786).

the report is available for futures, stocks, ETFs, forex, and crypto. you can filter by ticker, session (NY, London, Asian, full globex, or custom), and lookback period (1 month to 5+ years).

how the calculation works

according to edgeful data, the fibonacci levels report follows a specific calculation process:

the fibonacci levels report calculates fibonacci retracement levels from the previous day's range and tracks how often price reaches each level.

• the report takes the previous day's high and low to establish the range, then calculates standard fibonacci levels (0.236, 0.382, 0.5, 0.618, 0.786)
• for green (bullish) candles, levels are measured downward from the high. for red (bearish) candles, levels are measured upward from the low
• the report tracks how often the next day's price touches each fibonacci level
• percentages show the hit rate for each level, helping you identify which fibonacci levels have the highest historical success rate

available subreports

the fibonacci levels report has 1 subreport for deeper analysis:

by weekday. calculates Fibonacci retracement levels based on previous day price ranges and tracks how frequently these levels are reached grouped by weekday.

how traders use fibonacci levels data

• identifying high probability fibonacci retracement levels for entry points based on historical touch rates
• setting profit targets at fibonacci levels with highest historical success rates
• risk assessment by analyzing fibonacci level failure rates in different market conditions
• position sizing based on fibonacci level probability statistics for better risk management
• entry timing optimization by understanding which fibonacci zones produce best continuation patterns

the data doesn't tell you to trade. the fibonacci levels report tells you the historical performance of the setup in front of you. what you do with that information is your decision.

results require customization, time, and effort. the numbers change depending on your ticker, session, and lookback period. always check the data for your specific conditions.

combining fibonacci levels with other reports

the fibonacci levels report works best when combined with other edgeful reports for confluence:

• use the what's in play dashboard to see fibonacci levels data alongside your other favorite reports in one view
• the screener lets you scan up to 49 tickers for fibonacci levels setups across 4 reports simultaneously
• edgeful AI can analyze fibonacci levels data alongside other reports and find patterns you'd never spot manually

key takeaways

• the edgeful fibonacci levels report measures calculates fibonacci retracement levels for green (bullish) and red (bearish) candles by analyzing daily price ranges and tracking how often subsequent day prices touch specific fibonacci levels (0.236, 0.382, 0.5, 0.618, 0.786). processes historical data to determine the probability of price reaching each fibonacci level based on opening price position within different fibonacci zones.
• available for futures, stocks, ETFs, forex, and crypto with full session, ticker, and date range filtering
• 1 subreport available: by weekday
• part of the 150+ reports included in the edgeful essential plan ($49/month or $39/month annual)
• works best when combined with other reports using what's in play, the screener, or edgeful AI

trading involves risk. past performance and historical data do not guarantee future results. the statistics referenced in this post are based on historical data and may not reflect future market conditions. always trade with proper risk management.