A series of numbers often used by traders to calculate potential retracement or extension levels of a price move. These mathematical expressions were first described by Leonardo of Pisa (also known as Fibonacci) around 1200 A.D. Fibonacci numbers are found throughout nature including the spirals of galaxies, crystal structures, and the nautilus shell. (For you geeks the sequence is simply the addition of the two preceding numbers: 0,1,1,2,3,5,8,13,21,34,55,89,144,233,377,610,987, etc. Note: each number is 1.618 times bigger than its predecessor.)
Have more questions? Submit a request