Fibonacci ratios are used a lot in forex trading, and the name comes from the mathematician Fibonacci. These ratios are only a small part of what has been learned about Fibonacci. Leonardo Fibonacci was an Italian mathematician who is known for finding a simple series of numbers that can be used to make ratios that show how things in the universe are related to each other. This set of numbers starts with two ones, and the next number is the sum of the two ones that came before it. These ratios are used in Forex trading, and a big part of Forex is about them. Leonardo Fibonacci was called the greatest mathematician of the Middle Ages because he did a lot to make numbers better and because the idea of algebra was based on his math work.
Forex traders use Fibonacci retracement levels as levels of support and resistance. Hundreds of thousands of Forex traders see the same levels of support and resistance, and they use these levels to place stops or enter trades by placing sell and buy orders. Forex traders use the Fibonacci extension levels as places to stop making money. Almost all Forex charting software has tools for both the extension level and the retracement level of Fibonacci. But if you want to use the Fibonacci levels in your trading, you need to know where the Swing High and Swing Low points are.
Leonardo Fibonacci was well-known for his work in math, and his math is well-known in Forex trading. There are a number of Fibonacci principles that are used in the Forex trading market. If you use these principles, you can make much better decisions when you trade on the forex market. In Forex trading, Fibonacci ratios are used with targets and many other things.
If Leonardo Fibonacci hadn't been the math genius he was, there might not be Forex trading today, and the world would be very different. In Forex trading and analysis, Fibonacci numbers and ratios are very important. Traders on the Forex market use the Fibonacci retracement level and the Fibonacci extension level to help them control the risks and profits of trading on the Forex market. Leonardo Fibonacci made a very important contribution to the world of trading, and hundreds of thousands of traders use his work every day on the Forex market.
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