GBILD86/87 1000 2 GILB 1512 -126 BPCL 293.3 0.3 USHL 535 5 LEC 191 6 SBL 249 -2.9 SLBBL 832 -12.5 STC 4730 5 RMF1 8.16 -0.04 HATHY 911.1 -23.9 RURU 646 -18 LBBL 384 -4 VLBS 1045 -9 HIDCL 163.5 -0.5 DOLTI 423.1 -1.4 NIMB 157.3 -2.7 CHDC 1031.9 -20.1 KDBY 9.15 -0.05 KPCL 468.1 -10.8 NABBC 555 -8 NABILD87 1005 -5 SMFBS 1390 -20 MEN 611 -5.3 EBL 528.1 -4.9 SLBSL 1182.1 -27.9 NICA 412 -3.1 NBL 213 -2 EHPL 546.1 -20.1 ICFC 526 -8 DLBS 1284 -51 MCHL 433 4 SDLBSL 1149 -46 NLICL 550 -1 AVYAN 941 -33 SAPDBL 355 -3 BHL 359 -8.9 PCBLP 125.9 -13.1 HDHPC 132 2.9 GBIME 183 -3.1 NIBD2082 1095 5
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Uptrend Table Calculator

High Price Low Price Closing Price

Retracements
23.60%
38.20%
50%
61.80%
76.40%
Extensions
261.80%
200%
161.80%
138.20%
100%
61.80%
50%
38.20%
23.60%

DownTrend Table Calculator

High Price Low Price Closing Price

Retracements
76.4%
61.80%
50%
38.20%
23.60%
Extensions
23.60%
38.20%
50%
61.80%
100%
138.20%
161.80%
200%
261.80%

What Are Fibonacci Numbers?

Fibonacci studies are popular trading tools. Understanding how they are used and to what extent they can be trusted is important to any trader who wants to benefit from the ancient mathematician's scientific legacy. While it's no secret that some traders unquestionably rely on Fibonacci tools to make major trading decisions, others see the Fibonacci studies as exotic scientific baubles, toyed with by so many traders that they may even influence the market. In this article, we examine how the Fibonacci studies may influence the market situation by winning the hearts and minds of traders.

The Fibonacci method should only be used in a combination with other methods, and the results derived should be considered just another point in favor of a decision if they coincide with the results produced by the other methods in the combination.


How It Works

It is a popular opinion that when correctly applied, the Fibonacci tools can successfully predict market behavior in 70% of cases, particularly when a specific price is predicted. Others consider computations for multiple retracements too time-consuming and difficult to use. Perhaps the greatest disadvantage of the Fibonacci method is the complexity of the results for reading and the ensuing inability of many traders to really understand them. In other words, traders should not rely on the Fibonacci levels as compulsory support and resistance levels.