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pakeha
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The theory holds that Fibonacci is not only true in organic matter, but within the market itself, and Fibonacci ratios, more often than not, lay out of a map for retracement levels, after a significant move. However there is no proof that there is in fact any relationship between what is true in organic matter and what is true in the forex market. What is true is that using Fibonacci retracement in forex trading is widely promoted with Fib tools readily available in all the popular trading platforms. So the continued promition and use of Fibonacci retracement, coupled with the tenuous tie-back to "natural forces" tend to make it a self fullfilling prophecy. But like most truisms in forex (e.g. the trend is your friend) its not true often enough for you to make a fortune, or even a decent living. My 2 cents