Hindsight is a wondrous thing. What if it had been a 61.8% or 38.2% or 66.6% or 91.1% or 74.7% retracement? (These are the secret numbers fibonacci didn't publish but if you know where to look there are all to be found in the Bible).
Would we all be nodding knowingly about those too?
Human beings seek order and patterns in all things and I promise you that you can make up your own fib series and you will find amazing examples all over your charts.
Give it a name such as 'the Traders Secret Fibonacci Bible code' and sell it on the internet.
Not meant to provoke, but i think it's interesting that...
Fibonacci series, and the number
phi = 1.618.... crop up all over the place; a few example you might not be aware of...
Snails; If you measure the increase in the width of a "coil" on an ammonite, they increase at the rate of 1.618.....
If you measure the ratio of the length of your thigh to shin, upper arm to forearm, and so on down your limbs and digits, they show the proportion 1.618...
Populations (e.g. rabits, Fib's original study, and Bees), the ratio of generation N to N-1 = ...guess...
1.618 (X) and 0.618 (X') are the only solutions to the quadratic X^2 - X - 1 = 0... and it is the only number where X -1 = 1/X
furthermore X + X' = 1 and X.X'= -1
Plants; The "divergence" of leaves extending from a stem limits to to 1.618...
I'm sure you all know about the length: Width of the Acropolis... did you know that a study done on the attractiveness of rectangles showed that 1:1.618... is widely regarded as the most attractive?
Nevermind all the places it pops up in geometry; It is just like Pi or
e - one of those numbers that nobody can really explain, it just "is".
(Not saying any of this has anything to do with trading at all, but Phi is all over the place in nature; and markets are driven by humans, who in turn are subject to nature)
