Fibonacci numbers were derived from an Italian mathematician Leonardo
Pisano and documented initially in the 13th Century. Leonardo was
considered by some as ‘the most talented western mathematician of the
middle ages and made many of the original contributions within complex
calculations.
He derived a series of Golden Numbers that in essence were a sequence of numbers where each successive number is the sum of the two prior ones. 1, 1, 2, 3, 5, 8, 13, 21. 34, 55, 89 etc. Nicknamed ‘Fibonacci’ by his friends and peers the Golden Number sequence was soon to be renamed Fibonacci.
Traders and investors have used these numbers in their trading and provide exceptional turning points within the market.
Technical Analysts found that certain percentages of the Fibonacci
Sequence (after the first several numbers) identified that the ratio of
any number to the next was approximately 0.618% and the next lower
number was 1.618%. These Golden Ratios impact on our daily lives in many
ways and have been adopted also by the trading community.
He derived a series of Golden Numbers that in essence were a sequence of numbers where each successive number is the sum of the two prior ones. 1, 1, 2, 3, 5, 8, 13, 21. 34, 55, 89 etc. Nicknamed ‘Fibonacci’ by his friends and peers the Golden Number sequence was soon to be renamed Fibonacci.
Traders and investors have used these numbers in their trading and provide exceptional turning points within the market.
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| Fibonacci Retracements |
