In modern magical traditions, frankincense is often used as a purifier – burn the resin to cleanse a sacred space, or use the essential oils* to anoint an area that needs to be purified. Because it is believed that the vibrational energies of frankincense are particularly powerful, many people mix frankincense with other herbs to give them a magical boost.
Many people find that it makes a perfect incense to use during meditation, energy work, or chakra exercises such as opening the third eye. In some belief systems, frankincense is associated with good fortune in business–carry a few bits of resin in your pocket when you go to a business meeting or interview.
In some traditions of Hoodoo and rootwork, frankincense is used to anoint petitions, and is said to give the other magical herbs in the working a boost.