The challenge with a recursive formula is that it always relies on knowing the previous Fibonacci numbers in order to calculate a specific number in the sequence. For example, you can't calculate the value of the 100th term without knowing the 98th and 99th terms, which requires that you ...
Looking to get aboard the trend is always the best course of action as the trend really is our friend. The Fibonacci tool allows traders to look at a market and have an idea of where price may roll back over and continue with the trend. To mark the Fibonacci we place it from the ext...