This course FIBONACCI RETRACEMENT : SIMPLIFIED is a simple explanation of Leonardo Fibonacci's number sequence and its adoptability in moder day online currency trading. I have simplified and explained the calculation with few examples. Read it and mail me with proof of this purchase, and get excel sheet with readymade calculations, to take immediate trading decisions. It is ideal tool for EUR/USD, GBP/USD, USD/JPY and USD/INR.
Fibonacci Retracement is a ideal tool for intraday currency trading. Simple mathematical calculations. No technical knowledge needed. Designed exclusively for currency traders. Traders want to trade currencies without learning charting and technical analysis, can use this method.
The Author, Sankar Srinivasan is from Madurai City, Tamil Nadu, India. He is having more than 15 years of experience in Technical Analysis and Online Trading. He is conducting Technical Analysis and GANN Theory Classes for Online trading customers. Moreover, He is National Stock Exchange of India's Certified Market Professional.
***
Fibonacci Retracement as a Technical Analysis Tool
While there have been countless books and articles written on the use of Fibonacci in technical analysis, the basics are simple.
On the price scale, these ratios, and several others related to the Fibonacci sequence, often indicate levels at which strong resistance and support will be found. Many times, markets tend to reverse right at levels that coincide with the Fibonacci ratios.
On the time scale Fibonacci ratios are one method of identifying potential market turning points. When Fibonacci levels of price and time coincide you have high probability entry points.
In the next few pages I will talk about how I use the two most common applications of Fibonacci:
• Price Retracements – A strategy for quality entry points
• Price Extensions – An approach to determining how far price will run
Then after we have covered the basics we will talk about bringing it all together and using both Fibonacci Retracements and Fibonacci Extensions at same time and how clustering of these ratios increases the probability of profit.
