Fibonacci numbers, sequences and ratios have been around since the beginning of time. The Greeks used these ratios to build the Parthenon but they are also seen in the Milkyway Galaxy. Fibs can be seen everywhere in natural.
They are also present in the financial markets. If you look at your charts you can find levels that have been important on an assets journey and when you look at them in relationship to a prior move up or down, there are certain ratios to which the market retraces before continuing forward.
We can use these levels to make important trading decision and also as filters and alerts.
Most traders use the 38.2, 50 and 61.8 and neglect the 78.6 retracement level which offers us many opportunities. The levels work well in short term online trading of forex, cryptocurrency, stocks and commodities. They work on just about any asset in any time frame on any chart.
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