Forecast Forex Market using Fibonacci

What is Fibonacci Re-tracement

Fibonacci retracement is a very popular tool used by many technical traders to help identify strategic places for transactions to be placed, target prices or stop losses. The notion of retracement is used in many indicators such as Tirone levels, Gartley patterns, Elliott Wave theory and more. After a significant price movement up or down, the new support and resistance levels are often at or near these lines.

• Fibonacci is a tool or technique to forecast market trends or Forex.
• It's can be paired with other charts like candlestick chart, bar chart patterns, indicators, etc. 
• Used determine the selling and buying trend of a currency pair in the Forex market.
• Detect Support & Resistance

The purchase process can be done if the candlestick chart creating Bullish engulfing candlestick pattern, Morning Star, and Double bottom, Tweezer bottom.Proses sale includes Bearish engulfing candlestick, Evening Star,  Tweezer  Top, and the Double Top.

Identification techniques Fibonacci
Fibonacci techniques using consecutive numbers as follows:
"1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, .."

The numbers are calculated by adding the two numbers before it

For example:
3 + 5 = 8
5 + 8 = 13
8 + 13 = 21
13 + 21 = 34

In the Forex market forecasts or stock, the ratio of Fibonacci numbers are used to predict the process of selling the currency pair,Thus many professional traders use Fibonacci number ratios to make the process of selling and buying to forecast Support & Resistance

Fibonacci Ratio for an example.
Suppose you take the example of 4 consecutive Fibonacci numbers are:

13, 21, 34, 55

By dividing the two numbers above, you will see a number separti ratio follows:
13 / 21 = 0618 or 61.8% 55 / 34 = 1618 or 161.8%
34 / 55 = 0618 or 61.8% 21 / 55 = 0382 or 38.2%
34 / 21 = 1618 or 161.8% 13 / 34 = 0382 or 38.2%

Square root (Square root) 0618 = 0786
Square root (Square root) 1618 = 1.27

So my ratios used in Fibonacci techniques are:
0382 = 38.2%
0:50 = 50%
0618 = 61.8%
0786 = 78.6% (76.4% used, 38.2 x 2 = 76.4%)
1:27 = 127%
1618 = 161.8%
2618 = 261.8%

Fibonacci re-tracements
A term used in technical analysis that refers to areas of support (price stops going lower) or resistance (price stops going higher). The Fibonacci retracement is the potential retracement of a financial asset's original move in price. Fibonacci retracements use horizontal lines to indicate areas of support or resistance at the key Fibonacci levels before it continues in the original direction. These levels are created by drawing a trend line between two extreme points and then dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100% 

How to make a Buying Process
For example to make the purchasing process, wait for the price or the market is up from point A to point B and moving back or dropped back to below the point B to point C. After it came down to below the 38.2%, 50% or 61.8% at point C, it will rise again to the point D. Thus the purchasing process can be done after it reaches the point C and back up. See the following diagram:

How to make a Selling Process
To make the sales process, wait for the market price or a decrease from point A to point B and moving back or to increase return on from point B to point C. After it reaches the level of 38.2%, 50%, or 61.8% at point C, it will fall back to point D. Thus the sales process can be done after it hit to point C and back down.

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Disclaimer Updated : 30 May 2023
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