Hello professor @imagen, I would like to sincerely appreciate your lecture about Fibonacci retracements by submitting my assignment post that you prevailed to the steemians. ----- # Who was Fibonacci? What were your most important contributions in the field of mathematics? ----- Fibonacci is also known as Leonardo Pisa who hailed from the Republic of Pisa which is why he is called Leonardo of Pisa and is considered to be one of the utmost brilliant mathematicians of the Middle Ages. At the time, Europeans were still using Roman numbers while Hindu Arabic mathematicians were using a different number system that was more robust and efficient. ![slide_1.jpg](https://cdn.steemitimages.com/DQmRbvCAQqVjRXBVWD1TWHmjMp36fBhazP4v6w3oLDJQZ2z/slide_1.jpg) [image source](https://images.app.goo.gl/k5SAoRAAXj7FaRG97) Fascinated by the brilliance of the Hindu Arabic numeral system, Fibonacci brought it to the Western world, in 1202, through his now-famous book Libero. In the book, he reviewed and compared the Hindu Arabic numeral system with other systems, such as Roman numerals, and described how using the Hindu Arabic system makes calculations faster and easier. Although his book contains the earliest known description of the Fibonacci sequence, outside of India, it was described in ancient Indian texts by mathematicians, as early as the 6th century. This famous sequence may just seem like a series of numbers, but the Fibonacci sequence has been discovered and rediscovered in various forms, not only in mathematics, but also all across the natural world, and in our everyday lives. ----- # Descript in-depth the Golden Ratio. How is it obtained? Where is it located? Give examples of your application through history. ----- ![20808-01-golden-ratio-powerpoint-template-2.jpg](https://cdn.steemitimages.com/DQmUT5pPX2op6XcdnH33jm4sPMW7fuGCmZJ6Zdoq7x3vNZ2/20808-01-golden-ratio-powerpoint-template-2.jpg) [image source](https://images.app.goo.gl/McedpMmqUkHtN6Cb9) The golden ratio approximately equals 1.618 which is represented by the Greek letter “phi”. In math, the golden ratio is a term used to describe the relationship of two figures where the numbers seem to be in some form of a complimentary ratio. If you have a number “a” and a lower number “b” then the two are in the golden ratio if the consent of these two numbers is near 1.618. Basically, any ratio which comes close to this value is said to be a perfect proportion. The golden ratio is commonly used to calculate perfect spirals, triangles, and other figures. For example, a rectangle with a length of 8.09 inches and a width of 5 inches is in the golden ratio because 8.09 divided by 5 is equal to 1.618. Since the discovery of the golden ratio, many known individuals were inspired to incorporate this magnificent number into their greatest works and creation, for example, Leonardo Da Vinci used the proportion set forward by the golden ratio to construct his masterpieces and in music, evidence was found on the work of Mozart for arranged his piano sonatas basing on the golden ratio. ![golden-ratio-design-examples.jpg](https://cdn.steemitimages.com/DQmcKviGmyWc9nYSXvjTDRG7svTzLjwcckRgiKk9AFcsTde/golden-ratio-design-examples.jpg) [image source](https://images.app.goo.gl/1CshGjk6U7bAvxHC7) ----- # Describe how Fibonacci is used in Trading Views. Show screenshots. -----

First and foremost visit https://www.tradingview.com/ and click on the chart icon.

![a1.PNG](https://cdn.steemitimages.com/DQmdqQorANPxK6Cav6MdAvctPD6your5CPeeXzJ8JmETVrK/a1.PNG)

The chart window will show up then click the third button on the bar situated at the left side of the chart which will then display for you a drop-down of the different Fibonacci tools to aid in analyzing the chart.

![a2.PNG](https://cdn.steemitimages.com/DQmRax9b4zABFKmQPN7D8ZMYA9ydk9bsQrMggEezggKjhs4/a2.PNG)

If you notice the market is bullish and moving in the uptrend direction, to know the levels of retracements so as to get a perfect entry and exit point, you ought to plot the Fibonacci retracement tool right from the bottom of the trend connecting it to the highest level of the trend.

![a3.PNG](https://cdn.steemitimages.com/DQmP9jtULgNiUkEBPiqRFP165p4xXFCehvEzhcqYbbvYx7h/a3.PNG)

If you notice the market is bearish and moving in the downward direction, you plot the Fibonacci retracement tool from the highest point of the trend connecting it to the lowest point of the trend.

![a4.PNG](https://cdn.steemitimages.com/DQmcF1MXUNKrxv5KszwWGx4V2qH8SiZazx9GkuikHiShkMw/a4.PNG) ----- # Make an investment of at least $10 (show screenshots). Determine Fibonacci levels with a timeframe of 4 hours for a period of 48 hours. Identify possible support and resistance levels for that time period. Show screenshots at 24 and 48 hours. -----

In this task, I made an investment worth $10 in Trust wallet token (TWT) after analyzing the price movement using my Fibonacci retracement tool as I will be explaining below.

![a11.PNG](https://cdn.steemitimages.com/DQmbJZVody1CsUzY5NAmJ13vxYTpELhaaGw32pdzNvDKN59/a11.PNG)

The Fibonacci levels work on any timeframe but it is always better to use a higher time frame since it shows stronger confirmation. Following the task rules, I used the 4-hour timeframe to plot the Fibonacci levels. Before I plotted, I first had to figure out the trend of the market and later realized that it was in the uptrend direction, and in this case, I plotted the Fibonacci levels from the bottom to the top which acted as support and I waited for the retracement levels where I set my buy order and entered in the trade after the levels were triggered.

![c11.PNG](https://cdn.steemitimages.com/DQmaKZfgEBv1d7226a6MUAtNGxa2m3TF3u15eCwe4aHc8Tj/c11.PNG) ![w.PNG](https://cdn.steemitimages.com/DQmYnRMBKtKv2K6Mrgd5qqCpuoz6obnAJv2FrNXcrhE5uMp/w.PNG) ----- # What are Fibonacci extensions? ----- Fibonacci extensions are tools used in technical analysis by traders to indicate operating profit aim and demonstrate the distance an asset’s price has moved after a pullback is completed. The Fibonacci extension can be used in both directions, that is, if the price of an asset is on an uptrend or when it is on a downtrend and can be plotted on a financial chart indicating price levels of feasible significance. These levels are situated on Fibonacci ratios as percentages that include; 61.8%, 100%, 161.8%, 200%, and 261.8% which determine the distance of the following price move after a pullback and also indicate possible areas of significance in the financial market. ----- # In conclusion. ----- In order to trade successfully, a trader needs Fibonacci levels because they will always help to determine support and resistance levels, take profit levels, and also stop-loss levels. Therefore, I would like to thank professor @imagen for such an amazing lecture about Fibonacci retracements.