Fibonacci Forex
Fibonacci Method In Forex Fibonacci retracement levels are considered a predictive technical indicator since they attempt to identify where price may be in the future. the theory is that after price begins a new trend direction, the price will retrace or return partway back to a previous price level before resuming in the direction of its trend. After the first few numbers in the sequence, if you measure the ratio of any number to the succeeding higher number, you get. 618.. for example, 34 divided by 55 equals. 618. if you measure the ratio between alternate numbers you get. 382.. for example, 34 divided by 89 = 0. 382. Fibonacci numbers really work in forex trading because they reflect the psychology of the traders. trading forex or stocks is all about knowing the psychology of the traders: when most traders sell, the price goes down and when they buy, the price goes up. Fibonacci trading how to use fibonacci in forex trading. by luckscout team 48 comments. fibonacci trading is bec...