Trader's Glossary

Fibonacci Retracements

Support and resistance lines drawn on an asset’s price chart to determine any Fibonacci relationships in the price fluctuations. They are named after Leonardo Fibonacci, the 13th century mathematician, who introduced the Fibonacci numbers as an integer sequence in which each number is the sum of the previous two.
Did you know?

The GBP/USD pair is widely referred to as “cable”. The term dates back to the 19th century, during which the exchange rate between the U.S. dollar and the British Pound was transmitted across the Atlantic via a huge cable that ran across the ocean floor and connected the two countries.

Word of the day
"Social Trader" - A forex trader who interacts with an online community of traders, sharing information about the markets and the strategies he employs.
Pro Tip

pip value in quote currency = pip in decimal places X trade size

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