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Fibonacci number sequences have been used for all sorts of markets for years and years. The sequence of numbers were created by Leonardo Fibonacci hence the name “Fibonacci”
Leonardo Fibonacci was also known as Leonardo Pisano, and sometimes Leonardo of Pisa. Leonardo was thought to be one of the best mathematicians in the middle ages. He was born in Italy around 1170 and died at the age of 70 somewhere about 1240.
How does the Fibonacci Number Sequence work?
The numbers are found by adding the number previously used in the sequence.
For Example 1+1=2, 1+2=3, 2+3=5, 3+5=8, 5+8=13, 8+13=21, 13+21=34 and so on.
Many people in Forex Trading Markets use the Fibonacci Grid to trade. They believe it is much more accurate using Fibonacci to determine when a trading point will occur.
The Fibonacci Strategy is usually used by traders as a manual trading method.
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