Fibonacci Sequential Trading
What is Fibonacci sequence?
No specific information is provided on who developed the Fibonacci sequence as a trading strategy. However, the Fibonacci sequence is a sequence introduced by the Italian mathematician Leonardo Fibonacci in the 12th century, and has been widely applied in the natural world or financial markets. The sequence is used for technical analysis in the stock and foreign exchange markets, and is considered as a support or resistance at certain price levels and is used in trading strategies.
What is the trading application of the Fibonacci sequence?
The technical analysis technique that applies the Fibonacci sequence to trading is Fibonacci reversion. It is utilized to identify potential support and resistance lines using Fibonacci ratios based on key highs and lows in the price chart. This is used to assess the trend’s reversal point or trend sustainability, and to determine when to buy or sell based on this.
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Which asset market can be applied using the Fibonacci sequence?
The strategy of applying the Fibonacci sequence to trading is applicable to all stocks. This sequence is used to predict price movements, identify support lines and resistance lines, and is actively used in technical analysis of various financial products such as stocks, foreign exchange, and cryptocurrency
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