The concept of Fibonacci Forex trading is being used by millions of Forex traders all around the world. These numbers forecast the coming oscillation in the Forex charts. Though, at the same time, the prediction made cannot be proclaimed as flawless and straight hitting to the mark, the closeness it gets to is quite amazing. The Fibonacci levels are very elementary and fundamental concepts which need to be grasped before delving into the risky environment of Forex trading.
Leonardo was born in Pisa, Italy in about 1170. His father Guglielmo was nicknamed Bonaccio ("good natured" or "simple"). Leonardo's mother, Alessandra, died when he was nine years old. Leonardo was posthumously given the nickname Fibonacci (derived from filius Bonacci, meaning son of Bonaccio