Ask Colin

Could you explain Fibonacci numbers please?

Here is a brief explanation that I wrote a few years ago:

Introduction to Fibonacci

Leonardo Fibonacci was a remarkable Italian mathematician, born around AD 1170. He is known for many important discoveries, but is perhaps best known for the natural mathematical series named after him. Elliott incorporated the Fibonacci Series into his wave analysis. It would seem that Elliott intended its use to be primarily confirmatory, but many of his later students also claim a predictive use. Gann used main divisions of time and price movement by eighths which, at least approximately, include some of the key Fibonacci ratios.

The Fibonacci series defined

The Fibonacci Series is the sum of the two previous numbers, starting with 1 and 1.