What is Fibonacci Retracement?
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    What is Fibonacci Retracement?
    who is Fibonacci? Born in pisa around 1170, Leonardo pisano is better known by his nickname Fibonacci. He was educated in North Africa, travelled widely and studied different numerical system and methods of calculation. At the time the Roman numeral system was most popular, but Fibonacci recognised the enormous advantages of the mathematical system used in the countries is visited. I started working on the new system and Presented it in his famous book liber abaci in 1202. He introduced the modus indorum. Today known as the Hindu Arabic numeral system. It made a profound impact on european thought because making arithmetical operation with Arabic numerals was for quicker and more efficent then the old Roman emperor ****erick, who granted a salary to Fibonacci in recognition for the services he had given. The book comprises three sections, the first covering numbering from 0 to 9, as well as positional notation. he showed the practical use of the numeral system by applying it to commercial book keeping, interest calculation, money changing and similar topics. the second section deals with a rang of issues faced by merchants such as goods pricing, profit calculation, and currency conversion . the Other is mostly famous for the Fibonacci numbers and Fibonacci sequence, which are introduced in third section.The Fibonacci used series of numbers where each number is equivalent to the sum of the two number previous to it 0,1,2,3,4,5, and on to infinity.This sequence ties directly the golden ratio, because if you take any two successive number thier ratios is very close to 1.618. Hence this figure 1.618 is called phi or the golden ratio. the Golden ratio appears frequently in nature , architecture, art, biology and even the financial Forex markets. Examples of where the golden ratio occurs include the Great Pyramid of Giza, Leonardo spiral galaxies, sunflowers, tree branches, beehives and human faces.

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