Fibonacci Forex Trading

While people across the world do not believe that the patterns of stock and forex markets cannot be mathematically predicted, there are certain prevalent ideas in the forex markets in terms of pattern prediction. While the world looks on in awe, billions of dollars are traded each year based on a prediction system derived from the Fibonacci sequence. This was a sequence invented by an Italian mathematician of the same name such that any number in the sequence is the sum of the two preceding numbers in the sequence, e.g. 1, 1,2,3,5,6,13 and so on. Such a derivative is used in forex and through such ratios the forex markets are predicted successfully. Weird but true.