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« Back to articles from category "Finances"The following article was published in our article directory on February 7, 2015.
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Fibonacci Sequence: An Indicator Of Opportunities
Article Category: Finances
Author Name: Korley Tetteh
In an effort to promote forex trading as an opportunity for everyone and not just for financial experts, many institutions have offered many forex trading courses, and it can be accessed on site or online, at the preference of the reader. Nevertheless, a very interesting topic on these courses is the involvement of the Fibonacci sequence in forex trading. As such, forex trading courses on Fibonacci sequence have also been offered.
FIBONACCI SEQUENCE
The Fibonacci sequence, discovered by mathematician Leonardo Fibonacci, is a sequence of number that seems to consistently occur in nature. It is a sequence different from arithmetic, geometric, or harmonic sequences. It is usually calculated by adding any Fibonacci number together with the number that immediately precedes it. For instance, assuming that the first two numbers are 0 and 1, the third term of the sequence is obtained by adding the second term and the number that precedes it (0+1=0); the fourth term is obtained by adding the third term and the number that precedes it (1+1=2) and so on. Using this process, the Fibonacci sequence is derived: 0, 1, 1, 2, 3, 5, 8, 13, 21, and so on.
SIGNIFICANCE OF THE SEQUENCE
Forex trading courses on Fibonacci sequences suggest that although it is not scientifically and mathematically proven to be directly related to price range and movement, the ratios obtained from these numbers, when plotted in a price chart, show great importance to traders.
Ratios derived from this sequence, called golden ratios, are believed to show instances when to support and when to resist forex purchases. The most important Fibonacci ratio is 61.8% and this ratio is believed to be the most reliable retracement ratio. Ratios such as 38.2% and 23.6% are also used by traders.
When these numbers are placed in the price chart, forex trading courses on Fibonacci sequences show that the line indicating such ratios shows a potential instance for support or resistance. For instance, a currency shows in its chart that at 61.8% retracement the line indicating price movement bounces. This means that there is a possibility that its price will go up for the next few days. On the other hand, if at the same ratio it does not bounce and continues to go down, this means that there is a possibility that price will go down.
NOT A CONCLUSIVE INDICATOR
While proven to be suggestive of price movement, the Fibonacci retracement lines does not conclusively show an effect. As such, focusing on these ratios alone is not advisable. Also, if all traders uses the Fibonacci lines, the behavior of markets will also change, rendering the method to be useless. Nevertheless, forex trading courses on Fibonacci lines suggest that these lines give a hint to traders on when to buy and sell currencies.
USE THE BEST STYLE
While forex trading courses on Fibonacci lines may say that it is the easiest trick, these courses also suggest that the best trick to use in forex trading is the one that works best for a person's trading style and analytical preferences. A combination of these will also work to increase likelihood of predictions.
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Keywords: forex trading, forex trading courses Fibonacci, learn forex, forex tips and tricks
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