Lesson 6 – Fibonacci Retracements

Inviato il 10 November 2008 da Forex Staff

Fibonacci numbers were developed by Leonardo Fibonacci, when he saw that these specific numbers were present all throughout the galaxy. Fibonacci numbers are a series of numbers that when you add the previous numbers you come up with the next number in the sequence. Here is an example: 1+1 = 2 2+1 = 3 3+2 = 5 5+3 = 8 8+5=13 And so on like this: 1, 2, 3, 5, 8, 13, 21, 34, 55… There are basically are four popular Fibonacci studies: arcs, fans, retracements, and time zones, being the Fibonacci Retracements the most widely used in Forex Market. When a market is moving swiftly in a given direction, ...