2023-07-03 08:30:47
What Is Fibonacci?The Fibonacci sequence is a series of numbers where each number is the sum of the two preceding ones: 0, 1, 1, 2, 3, 5, 8, 13, 21, and so on.
Fibonacci retracement levels are horizontal lines drawn on a price chart to indicate potential levels where the price of an asset may reverse or retrace before continuing in the original direction. The most commonly used Fibonacci retracement levels are 38.2%, 50%, and 61.8%.
Fibonacci extension levels, on the other hand, are used to identify potential price targets or areas of interest beyond the current price movement. These levels are calculated by extending lines beyond the initial price trend, typically at 161.8%, 261.8%, and 423.6% of the initial trend.
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