Fibonacci Levels Are What Exactly?
1.1346 + (0.0203*0.0)
1.1346 + (0.0203*0.236)
etc
1.1.1549 - (0.0203*0.0)
1.1549 - (0.0203*0.236)
etc
depending on whether fibonacci levels are from low to high or high to low
Could we discuss what Fibonacci levels are exactly like if we were going to make internal variables of Fibonacci level prices?
They seem to be a percentage of a price so for example between 1.1346 and 1.1549 we have 0.0203 pips .. how do we get fibo prices from the levels without using the fibo tool?
The Fibonacci levels being 0.0(0.0), 0.236(23.6), 0.382(38.2), 0.50(50), 0.618(61.8), 0.764(76.4), 1.0(100.0), 1.618(161.8), 2.618(261.8), 4.236(423.6)
Here are some links of interest for you to better understand what they are and how they are calculated:
- https://en.wikipedia.org/wiki/Fibonacci_retracement
- http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:fibonacci_retracemen
- http://www.investopedia.com/ask/answers/05/fibonacciretracement.asp
1.1346 + (0.0203*0.0)
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Could we discuss what Fibonacci levels are exactly like if we were going to make internal variables of Fibonacci level prices?
They seem to be a percentage of a price so for example
between 1.1346 and 1.1549 we have 0.0203 pips .. how do we get fibo prices from the levels without using the fibo tool?
The Fibonacci levels being
0.0(0.0), 0.236(23.6), 0.382(38.2), 0.50(50), 0.618(61.8), 0.764(76.4), 1.0(100.0), 1.618(161.8), 2.618(261.8), 4.236(423.6)