Fibonacci retracements are a popular tool used by traders in technical analysis to identify potential levels of support and resistance in financial markets. When it comes to scalping, Fibonacci retracements can provide valuable information for short-term traders looking to quickly enter and exit trades.The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding ones: 0, 1, 1, 2, 3, 5, 8, 13, 21, and so on. The ratios derived from these numbers, such as 0.