This overlooked charting tool for the cTrader trading platform is very good at identifying profit targets when there is a trend or alert the trader to where potential trend reversal areas could develop. Throughout nature, mathematicians have found that there is a repeating pattern which is based on a series of “Fibonacci numbers” that Leonardo Pisano Bogollo introduced to the West. The Fibonacci number series is based on what is known as the Golden Ratio which is a number found in galaxy formations and it is all around us, these “Fibonacci Numbers” are also found in financial markets.
- What are Fibonacci numbers?
- Fibonacci Numbers & Lines Explained
- How to Use the Fibonacci Retracement Tool
- How to use the Fibonacci Expansion Tool