View full page at forexfactory.com

 

Identify support and resistance levels with Fibonacci Retracements

From home.saxo

The golden ratio is not only common in trading. In fact, it occurs in nature, architecture and even in paintings. More specifically, two quantities are in golden ratio if their ratio equals the ratio of their sum to the larger of the two quantities. Or mathematically expressed, (a + b)/a = a/b = 0.618. As an investor or trader, you´re probably more familiar with Fibonacci. What you may not know is that the Fibonacci number string stems from the golden ratio. Mathematically, the number string goes: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55.. with the string continuing on indefinitely. The Fibonacci retracement levels are ... (full story)

Story Stats

  • Posted:
  • Category: Educational News