Fibonacci levels are used extensively by pro traders. Fibonacci retracement, extension and projection are important tools that pro traders use in determine when the trend will resume and how long it can be. Watch this 1 hour video tutorial that explains how to draw and trade with these Fibonacci retracement, extension and projection levels.
Watch this video also on the the secret to trading Fibonacci!
http://www.youtube.com/watch?v=dsomgrotZUg
This is another good video on Fibonacci!