Sathish Kumar P T

[Sathish Kumar P T]

This was not part of the program.

Need to do self-study.

[Sathish Kumar P T]

This was not part of the program.

Need to do self-study.

[Sathish Kumar P T]

This was not part of the program.

Need to do self-study.

[Sathish Kumar P T]

Fibonacci retracements use horizontal lines to indicate areas of support or resistance. They  are calculated by first locating the high and low of the chart. Then five lines are drawn: the first at 100% (the high on the chart), the second at 61.8%, the third at 50%, the fourth at 38.2% and the last one at 0% (the low on the chart). After a significant price movement up or down, the new support and resistance levels are often at or near these lines.

The Same is illustrated in the image attached.

[Sathish Kumar P T]

Series 0,1,1,2,3,5,8,13,,,,,is called Fibonacci Series = Where next number is the sum of previous two numbers.

Golden Mean is 13/8 = 1.625 , 8/13 = 0.615…. which is close to golden mean of 1.618 or 0.618 seen inconstantly at the higher order of the series.

Golden mean is seen all around in  nature and also in our body proportions. Same analogy can be used in stock market in prediction Resistance and support levels in chart.

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