Tutorial Fibonacci Number Sequence
You can use the Fibonacci tool on MarketClub's Java Charting Applet by clicking on the high points and most recent/major low. This will plot three ruling lines that represent a 38%, 50% and 62% markings between the chosen high and low points. These levels can help traders identify pullbacks/retracements. As you move through different time periods, the Fibonacci lines will readjust to fit various data constructs. It is possible to use this function regardless of market trend direction. The Fibonacci tools is also useful to analyze equities, futures, forex and precious metal markets. If you are interested the Fibonacci Sequence you may also want to obtain more information on Elliot Wave and W. D. Gann.
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