Description: Learn how to use Fibonacci Trading Strategy in your trades. Get tips and tricks for successful trading with Fibonacci Trading Strategy.
The Fibonacci ratios are based on a sequence of numbers discovered by Leonardo Fibonacci, an Italian mathematician, in the 13th century. The sequence goes as follows: 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, and so on. Each number is the sum of the two preceding ones.
The Fibonacci ratios that are commonly used in trading are 0.236, 0.382, 0.500, 0.618, and 0.786. These ratios are derived from dividing a number in the Fibonacci sequence by the number that follows it.
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