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?
Many consider the year 1880 A.D. to mark the beginning of modern foreign exchange. The reason for this is that it was during this year that the gold standard was first introduced.
Word of the day
"Chartist" - A trader who looks at an asset’s past price action to determine future trends. A Chartist is also known as a Technical Analyst.
Do not open a real account before doing some demo-trading.