[00:02] Fibonacci even is. Fibonacci was an Italian mathematician from the 13th century. He's famous for a number of sequences that showed up everywhere in nature. So, you see it in flower petals, in seashells, in the
[00:17] spiral of the galaxy. From that sequence, you get specific ratios: 0.62, 0.79, and a few others. Traders later noticed that price on the charts often
[00:30] noticed that price on the charts often pull back to the exact same ratio before continuing. And nobody fully knows why, but it happens often enough that it became a standard [music] tool in technical analysis. So, Fibonacci is
[00:45] just that, a tool to measure how deep price has pulled back in a move. And the 0.62 and the 0.79 range is the deepest part of a healthy pullback. That is the part of a healthy pullback. That is the golden zone.