Leonardo Fibonacci Famous Italian Mathematician

Leonardo Fibonacci is a famous Italian mathematician, founder of a simple series of numbers that refer to ratios valid for natural proportions of things on the planet. These ratios appear from the next numbers: 0, 1, 1, 2, 3, 5, 8, and 13 1, 34, 55, 89, 144, 233.

And found while performing next calculations: 1+2=3, 2+3=5, 3+5=8 etc. If to measure the forex signal ratio of any number to one of the next higher number the result will be 0.618. For example, 13/34 = 0.382. Fibonacci Retracement Levels are used as support and resistance levels: 0.236, 0.382, 0.500, 0.618, and 0.764. 0.382, 0.500 and 0.618 — are the most important to watch for. Fibonacci Extension Levels are used as targets for taking profit: 0.382, 0.500, 0.618, 1.000, 1.382, 1.500, and 1.618.