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2010 December 16, Corey Rosenbloom, The Complete Trading Course: Price Patterns, Strategies, Setups, and Execution Tactics[1], Wiley, →ISBN, page 147:The simplest way to apply the 0.618 ratio is in the common Fibonacci retracement tool on most charting software programs.
2011, Violeta Gaucan, “How to use Fibonacci retracement to predict forex market”, in Journal of Knowledge Management, Economics and Information Technology, volume 1, number 2, →ISSN: 2016 December 5, Indranarain Ramlall, Applied Technical Analysis for Advanced Learners and Practitioners, Emerald Group Publishing Limited, →ISBN, page 167:Under Fibonacci retracement, the ultimate purpose is to assess the pullback in prices following a previous increase. In essence, Fibonacci retracement is based on the notion that markets will retract a predictable portion of a move after which they will go on in the original direction.