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In finance, Fibonacci retracement is a method of technical analysis for determining support and resistance levels. [1] It is named after the Fibonacci sequence of numbers, [ 1 ] whose ratios provide price levels to which markets tend to retrace a portion of a move, before a trend continues in the original direction.
Proactive support and resistance methods include Measured Moves, Swing Ratio Projection/Confluence (Static (Square of Nine), Dynamic (Fibonacci)), Calculated Pivots, Volatility Based, Trendlines and Moving averages, VWAP, Market Profile (VAH, VAL and POC).
A Fibonacci prime is a Fibonacci number that is prime. The first few are: [46] 2, 3, 5, 13, 89, 233, 1597, 28657, 514229, ... Fibonacci primes with thousands of digits have been found, but it is not known whether there are infinitely many. [47] F kn is divisible by F n, so, apart from F 4 = 3, any Fibonacci prime must have a prime index.
Fibonacci was born around 1170 to Guglielmo, an Italian merchant and customs official. [3] Guglielmo directed a trading post in Bugia (Béjaïa), in modern-day Algeria. [16] Fibonacci travelled with him as a young boy, and it was in Bugia (Algeria) where he was educated that he learned about the Hindu–Arabic numeral system. [17] [7]
Some of the earliest technical trading analysis was used to track prices of rice in the 18th century. Much of the credit for candlestick charting goes to Munehisa Homma (1724–1803), a rice merchant from Sakata, Japan who traded in the Dojima Rice market in Osaka during the Tokugawa Shogunate. According to Steve Nison, however, candlestick ...
The golden spiral is a logarithmic spiral that grows outward by a factor of the golden ratio for every 90 degrees of rotation (pitch angle about 17.03239 degrees). It can be approximated by a "Fibonacci spiral", made of a sequence of quarter circles with radii proportional to Fibonacci numbers .
The Hungarian-British mathematician Steven Vajda (1901–95) published a book on Fibonacci numbers (Fibonacci and Lucas Numbers, and the Golden Section: Theory and Applications, 1989) which contains the identity carrying his name.
Both the Fibonacci sequence and the sequence of Lucas numbers can be used to generate approximate forms of the golden spiral (which is a special form of a logarithmic spiral) using quarter-circles with radii from these sequences, differing only slightly from the true golden logarithmic spiral. Fibonacci spiral is generally the term used for ...
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