Fibonacci Time Zone Indicator is very profitable that is usually used by technical traders to recognize periods in which the cost of an asset will experience an important amount of movement. It is a charting technique consists of a chain of vertical lines that correspond to the series of numbers known as Fibonacci numbers (1, 2, 3, 5, 8, 13, 21, 34, etc.). Fibonacci numbers are a series of numbers where all successive number is the summation of the two earlier numbers.
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However, these numbers take part in an important role in determining comparative areas where the prices of financial assets experience big price moves or alter direction. The four popular Fibonacci studies have bee defined as arcs, fans, retracements and time zones. If you select a starting position on the chart, a vertical line is located on each subsequent day that corresponds to the place in the Fibonacci number sequence. Today, it is a very popular tool among technical traders.
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