Topic: Fibonacci and trading fibonacci
1. What is Fibonacci?
Fibonacci is a sequence of natural numbers starting from 0 and 1, the following numbers equal to the sum of the previous two. The fibonacci sequence goes on indefinitely and is named after the person who found it - the Italian mathematician Leonardo Fibonacci.
Fibonacci sequence analysis can improve forex performance for all short and long term positions, identifying key price levels for support and resistance. Fibonacci used in conjunction with various determinants builds a solid foundation for strategies that work well through all conditional fields and degree variations.
The 0.386, 0.50 and 0.618 retracement levels include the structural Fibonacci found in the pack chart, with the 0.214 and 0.786 levels adding depth to the analyzed market.
2. Fibonacci tools for trading
The Fibonacci Fibonacci Upgrade works on the theory that after a major price move in one direction, the price either rejects or partially reverts back to the previous price level when continuing in the original direction.
Traders use fibonacci fibonacci support resistance zones and resistance capacities.
Since so many traders follow the respective trades and place buy and sell orders on them to enter trades or place stops, support and distance levels tend to be a first to complete knowledge. Most charting software includes all the Fibonacci salaries and extension tools.