Test use of fibonacci on XLM chart, all help/advice is welcome

XLM had a nice retracement last few days, think its going up, trying to understand WHEN to use fibonacci. I prefer the fibonacci tool in Bittrex but couldnt load it here for some reason.

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What is your advice guys? Am I using it correctly?

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bittrexblobstorage.blob.core.windows.net/public/171a6366-ac1a-4d1f-96ae-209ad5d34412.png

Prefer to use it like I use it on Bittrex, but I dont seem to find a similar one in the tradingview chartoptions.

Calibretto

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