fibonacci series

Fibonacci levels are used as indicators of possible trade development. Prior to acting on the Fibonacci level, the price must confirm. Traders have no idea which level will be significant ahead of time, so they must wait and see which level the price respects before entering a trade. The golden ratio, denoted by the Greek letter phi, is approximately 1.618. The famous "Fibonacci numbers" are the best approximation of the golden ratio. Fibonacci numbers are a never-ending sequence that begins with 0 and 1 and continues by adding the two numbers before it. From atoms to massive stars in the sky, the golden ratio describes predictable patterns. The ratio is derived from the Fibonacci sequence, which was named after Leonardo Fibonacci, an Italian mathematician. Nature and the financial markets both appear to use this ratio to maintain equilibrium.