Fibonacci Sequence

This is sequence of numbers, which was found by the Italian mathematician Leonardo Fibonacci. It is widely used in technical analysis to calculate the levels of support (see) and resistance (see) in the market. There are Fibonacci lines in your terminal. These are auxiliary indicators that can help you analyse the situation on the market. In the top panel of your terminal there is a button with dotted lines and the icon F, this is the icon for "Fibonacci lines." With their help, you can identify levels that show how the trend may change (see) or to what level prices rebound may occur (see). For example, there is a trend called a "price chart corridor". We can even describe it two straight lines and we understand that the price could go at any time through the top, or the lower boundary of the trend. So it is better to show these lines in your terminal using the button mentioned above. For Fibonacci, you need to identify 23.6%, 32.8%, 50% and 61.8% of the range of the current trend and establish new lines at these levels above the upper boundary and under the lower. Usually, these lines can be quite difficult for beginners to deal with, but you will soon learn how to use this valuable information about the behavior of prices. To learm more about this trade system, you can read the book “The New Fibonacci Trader” by Robert Fisher.

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