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Fibonacci in Forex Trading
The Fibonacci series is used in a number of technical analysis techniques providing strong signals for trade. Traders dealing in derivatives, futures or currencies rely on these pointers to place buy, sell and stop loss orders. We will discuss the more popular Fibonacci technical analysis techniques such as Arcs, Fans and Retracements in this article. However, other technical tools such as Extensions, Clusters, Time Zones, etc are also based on the Fibonacci Series and can be used by traders to identify supports and resistances. Before going on to discuss the more frequently used Fibonacci analyses, we have summarized the Fibonacci function below. The various Fibonacci levels such as 38.2% and 61.8% are ratios between various members of the Fibonacci series. Read more on Fibonacci in Forex Trading…
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