What is the Fibonacci Forex Calculator
Fibonacci calculator was invented by Leonardo Fibonacci - the first major mathematician in medieval Europe. He was born and lived in Italy in the 12th - 13th centuries. His theory of numbers has gained immense popularity and marked the beginning of one of the most powerful trading methods on the Forex market. Fibonacci sequence is a simple sequence of numbers where each successive one is the sum of the previous two. Mathematician Leonardo Fibonacci had identified a number of patterns in the sequence, which were applied in many areas, including trading. By identifying support and resistance levels, Fibonacci Calculator allows professional traders to find correction targets and trend direction in the price chart. Based on these data, they evaluate the market situation and decide on further action - whether to buy, sell or continue waiting for the most favorable conditions for entering the market. Fibonacci Calculator has earned a worthy place among many other Forex trader tools. Fibonacci levels are nothing but a technical analysis indicator of the Forex market determining the points of the graph where breakdowns or rebounds should happen. Typically, traders set stop-loss and take-profit at the Fibonacci levels, which significantly increases their chances of success. In order to use the Fibonacci Calculator from LiteForex, you need to enter in the form the required values (highest and lowest) of the current observed trend, indicate its direction and click on the button "Calculate". The calculator will take care of the rest.