Can Fibonacci Numbers Forecast Your Financial Future
It’s taken me a few years to realize that Fibonacci isn’t some type of pasta dish.
According to Wikipedia:
“In the Fibonacci sequence of numbers, each number is the sum of the previous two numbers, starting with 0 and 1. Thus the sequence begins 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610 etc.”
The Fibonacci sequence was also the basis of many Renaissance artworks where it was better known as the golden ratio.
A lot of investors believe that Fibonacci calculations can give you insights into stock market movements. Proponents say that patterns underlie everything in the universe–from the shape of shells to the position of your nose… even the highs and lows of the stock market.
I guess the important thing is: what do Fibonacci numbers say about the near term future?
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is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
