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Fibonacci Numbers
Fibonacci numbers is a creation of the Italian mathematician Leonardo Fibonacci who lived in 12th century. His numbers are a sequence of numbers in which every following number is the sum of two preceding numbers. If starting from 1, line would look like: 1, 1, 2, 3, 5, 8, 13, 21...etc. In this line, every number is about 1.618 times the previous number.
Fibonacci numbers found their purpose in technical analysis and trend reversal anticipation, as prices tend to move near the lines in Fibonacci study. Most popular studies incorporated in technical analysis are Fibonacci time zones, Fibonacci arc, Fibonacci retracement and Fibonacci fan.
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