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Leonardo Fibonacci, a mathematician in the 1200’s, created a numerical sequence of numbers while studying the Great Pyramid of Gizeh.
Fibonacci discovered that as the sequence of numbers proceeds, each number in the sequence is 1.618 times the preceding number and .618 of the next number (1,2,3,5,8,13,21,34,55,89,144,233,377,610,987 etc.).
These ratios occur throughout nature and science, and are known to have a drawing appeal to human esthetics and psychology.
For tutorials on how to apply Fibonacci-ratios to stock trading, follow some of these links:
Fibonacci numbers at StockTA.com - Short Appetizer.
Fibonacci Studies at MarketScreen - Enough to get you started.
Comprehensive tutorial on Elliott waves at Elliott Wave International - Registration required, but it is free and well worth the while.
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