5.1

Introduction to FIBS

In this lesson we will introduce another type of support/resistance indicator—Fibonacci Retracements. The Fibonacci golden rule is based on certain mathematical relationships, expressed as ratios, between numbers in a series. Their discovery was popularized in the Western world by the thirteenth-century mathematician Leonardo Fibonacci. They have application in fields as diverse as biology, music, art, and architecture.
In this lesson, we will focus on only the relevant Forex Fibonacci applications.

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