"Description It is generally accepted by market technicians that Fibonacci numbers define important market cycles and so many technical indicators are calculated using Fibonacci numbers or some factor of a Fibonacci number as lookback periods. In addition these numbers can be used to make projections of future price action and predict support and resistance levels. To determine the Fibonacci series the series starts with the numbers 1 and 2. fibo makes it easy to determine a Fibonacci number or to construct a series of such numbers. Each successive number in the series is the sum of the prior two numbers. Thus the next number is 1+2=3, followed by 2+3=5, 5+3=8, 8+5=13, etc. "
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