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The logic behind the series is we get 1.618 called Golden Mean shen one number in the series is divided by the previous number
The fibonacci sequence (1,1,2,3,5,8,,21,34,55,89,144) occurs throughout the worlds nature,art,music and mathamatics.
Earn term in the series produced by adding together two previous terms.This ratio was found by fibonacci which is found Aas follows:
Fibonacci- 0 and 1 is the original number and adding the latter with the former in the sequence will be a serious of numbers
0,1,1, 2,3,5,8,13 and so on..
<p style=”text-align: left;” align=”center”>The Fibonacci Sequence is the series of numbe</p>
<p style=”text-align: left;” align=”center”><span class=”large”>0, 1, 1, 2, 3, 5, 8, 13, 21, 34, …</span></p>
The next number is found by adding up the two numbers before it.
Fibonacci Retracement is generally used to understand the Possible support zone, This can be used to understand the expected bounce back level, if stock managed to bounce at 61.8% along with some technical indication may confirm the Bullish reversal, But the Failure of Recovery from 61.8% Level DOES NOT mean the bearish indication.
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