Fibonacci line, also known as the gold partition line, is a powerful analytical tool in the technical analysis of gold trading.
In the trading market, most technical indicators have a lag, which makes it difficult for traders to grasp when using them.
However, Fibonacci pullback line has the advantage of advance, which can help traders to place orders in advance. This is its biggest feature and advantage, and also one of the main reasons why it is favored by investors.
The following sections will explain how to use the Fibonacci callback line well in three sections: concept introduction, basic usage and practical methods.
Fibonacci is an extremely old mathematical method that involves a singular sequence of numbers 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233…
The sequence has the magical property that any number is composed of the sum of the first two numbers, and the ratio of the first number to the last number approaches a fixed constant of 0.618.
So 61.8% is the key Fibonacci ratio, also known as the “golden ratio.”
In general, two important sequences can be derived from the exploration of this series — 0.191, 0.382, 0.5, 0.618, 0.809;
1, 1.382, 1.5, 1.618, 2, 2.382, 2.618.
The most important of these two sets of numbers are 0.382, 0.5, 0.618, 1 and 1.618, which are widely used in gold and are extremely effective.
Depending on the method of use, the golden divider can be divided into five categories: Fibonacci pullback, Fibonacci extension, Fibonacci time interval, Fibonacci sector and Fibonacci arc.
The most widely used of these five types of lines are Fibonacci callback lines and Fibonacci extension lines.
Officials urged the Prime minister to resign.
