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Fibonacci in Technical Analysis

Fibonacci in Technical Analysis

Who is Fibonacci?

Leonardo Bonachi –  also known as Leonardo  Fibonacci – was a twelfth-century Italian mathematician. He is known as the most talented mathematician in the Western world of his time, and one of the greatest mathematicians in history. Although Fibonacci did not create the series now known as the Fibonacci series, it was certainly Fibonacci who introduced the phenomenon to the Western world in his book Liber Abaci.


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How can the Fibonacci levels of correction [1] and expansion [2] be calculated through the above progression?

 

  • 61.8%  =  Divide each escalation sentence by the next sentence (after the thirteenth sentence).

For example: (approximately) 55/18 = 0.618

  • 161.8%  Divide each collision sentence by the previous sentence.

For example: 89/55 = 1,618 ٫ which is called the “golden ratio”.

  • 38.2%   Divide each sentence by the second sentence after it

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