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Technical Analysis
  Fibonacci Studies
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Fibonacci Studies

Tradecision enables drawing Fibonacci Retracements, Fibonacci Extension, Fibonacci Circles, Fibonacci Fans, Fibonacci Times Zones, and Fibonacci Time Retracements.

Understanding Fibonacci Numbers
It is believed that in the 12th century Italian mathematician Leonardo Fibonacci discovered a connection between what is now referred to as Fibonacci Numbers while studying the Great Pyramid of Gizeh in Egypt.

Fibonacci Numbers are a sequence of numbers in which each subsequent number is the sum of the two previous numbers, for example, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, and so on.

The ratio between any number and the next larger number is equal to 0.618 after the first four calculations. The ratio between any number and the next lower number is approximately 1.618 (the inverse of 0.618).

The well-known Elliott Wave Principle is also based on the application of Fibonacci numbers to the waves seen in a price chart.

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