Fibonacci levels are first based on the famous Fibonacci sequence named in honor of an Italian mathematician who first discovered this mathematical concept expressed as a series of numbers that looks as this: 1, 1, 2, 3, 5, 8, 13,...as you can see Pips Wizard Pro there is a pattern in this numbers and the most important part of this concept is that the pattern can be seen in many natural phenomena and yes, in the capital markets too.
From the series above we can derive the Fibonacci ratios that look like this: .236, .50, .382, .618, etc. Forex trading can be linked to these ratios with awesome accuracy by using the oscillations you can see in the forex charts. The oscillatory patterns follow Fibonacci ratios very closely and for the educated eye they can show the resistance and support levels.
What is maybe the most important characteristic of Fibonacci forex trading is that the levels can be calculated in advance using data available for any currency pair so the forex trader will know when to enter or exit the market according to what is the most profitable decision depending on the market conditions.
http://www.binaryforexacademy.com/pips-wizard-pro-review/
The facts are clear: most Forex traders lose money. Only about 10% of traders manage to create a long term and continuous income from their efforts. The rest simply end up poorer than they were when they got started.
From the series above we can derive the Fibonacci ratios that look like this: .236, .50, .382, .618, etc. Forex trading can be linked to these ratios with awesome accuracy by using the oscillations you can see in the forex charts. The oscillatory patterns follow Fibonacci ratios very closely and for the educated eye they can show the resistance and support levels.
What is maybe the most important characteristic of Fibonacci forex trading is that the levels can be calculated in advance using data available for any currency pair so the forex trader will know when to enter or exit the market according to what is the most profitable decision depending on the market conditions.
http://www.binaryforexacademy.com/pips-wizard-pro-review/
The facts are clear: most Forex traders lose money. Only about 10% of traders manage to create a long term and continuous income from their efforts. The rest simply end up poorer than they were when they got started.
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