How Did a Dead Mathematician Nail Two Major Markets Yesterday?
The markets I am referring to are the gold market and euro markets. Readers of this blog will know from our previous videos and examples that we are big fans of Fibonacci retracement lines.
In this super short video (1:49), I will show you the lines we are talking about for the above two markets. I think you'll find it very illuminating as this example is so fresh. You will also find it very empowering.
As always our videos are free to watch and there is no need to register. Please feel free to give your feedback and comments on this blog.
All the best,
Adam Hewison
President, INO.com
Co-creator, MarketClub
Viva La Dead Giants
"we can see far, because we stand on the shoulders of giants". Newton ???
What did puzzle Fibonnaci?
"In the year 1202, Fibonacci became interested in the reproduction of rabbits. He created an imaginary set of ideal conditions under which rabbits could breed, and posed the question, "How many pairs of rabbits will there be a year from now?"
..Now, do you know of any series of numbers which begins with one and one and continues by adding the preceding two numbers to get the next? Of course you do. It's the Fibonacci series."
Source: http://library.thinkquest.org/27890/theSeries2.html
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Cheers!
I am trading at the Istanbul Stock Exchange.Such a kınd of useful knowledges are very useful and educatıonal.Especıally ınteractıve traders should follow your essays.Thanks....Trader from Istanbul Stock Exchange
Hey Frank, thanks ... both tidbits are interesting.
His real name was Leornaro Bonnaci of Pisa. Since Leonardo was the son of Bonnaci ... his last name became Fibonnaci which uses the prefix Fi, which is short for Filo or son of. Fibonnaci lived 1170AD to 1250AD and he was also responsible for the spread of the Hindu-Arabic numerals throughout Europe. No doubt Fibonnaci's impact on modern mathematics is being felt today. As a young man in the early seventies I studied Fibonnaci and I used his algorithms on mainframe computers so I have always respected his mathematical skills. Another dead mathematician that I respect is named Euler. His algorithms helped put man on the moon and are still used today for curve smoothing and high speed number crunching. The number, e, which Euler discovered several centuries ago is used in the Black and Schoales famous formula for option evaluation. Frank.
the dead mathematician thing is getting a bit tired... Just call it fibonacci