👨🏻🎓 The Fibonacci levels 👨🏻🎓 😊Guys, we are smoothly approaching the completion of the Technical Analysis section.👨🏻🎓🙌🏻
🧐Today I want to introduce you with Fibonacci levels.
💪🏻Let's start 💪🏻
👨🏻🎓 Leonardo Fibonacci is a great mathematician who lived in the XI century. ☝🏻
👉🏻The scientist deduced a number of natural numbers, which later began to bear his name.
Each number in the series was the sum of the two previous numbers: 1 + 1 = 2; 1 + 2 = 3; 2 + 3 = 5 etc.
The result is a series of numbers: 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, etc.
Fibonacci numbers have some properties:
📌Division of any number of the series into the subsequent tends to 0.618 (the golden ratio in ancient Greek and ancient Egyptian cultures);
📌dividing any number of the series by the next + 1 tends to 0.382;
📌dividing the subsequent number of the series by the previous one tends to 1.618;
📌division of the number of the series by the second number preceding it tends to 2.618.
Fibonacci numbers are often used not only in technical analysis, but also in physics, astronomy and other disciplines.💪🏻
☝🏻 The technical analysis usually uses the number 0.618 or 61.8%, 0.382 or 38.2%, as well as the psychological half (middle) of 50%.
✔ Very often, based on these coefficients in the technical analysis of the market, Fibonacci lines, Fibonacci levels and Fibonacci periods are built.
Fibonacci lines are built relative to significant highs / lows and represent support or resistance lines, from which they make a purchase or sale.
Fibonacci numbers - the magic of numbers that works in everyday life. But it works with varying success in trading.
⚡ Please note, that the number of Fibo level workouts is much less than the number of failures. The same applies to other types of levels and various methods for constructing them.
💥 You can simply draw arbitrary horizontal lines on the chart, and ... oh that's mystic... they will also be worked out both in the past and in the future. 💥
🌞🌞My dear, if you have questions about the topic or you want me to continue the topic of TA, write about this in the comments✍🏻✍🏻✍🏻
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Below are links to previous TA ideas👇🏻👇🏻👇🏻
