What is a fibonacci or φ ?

There were a gazillion web pages about fibonacci before and even more now after the Divinchi Code craze. I hesitate to make another. But we're traders and we're interested in all things trading and thus we cannot avoid the discussion of fibonacci sequencing.
"You can observe a curious evolution of Fibonacci expansions played out in musical progressions, crystal formations, and even in the growth of rabbit populations.

Whether in DNA spiral, the preprogrammed construction of a bee hive honeycomb, or the inspirational great pyramid Giza, Fibonacci relationships abound. The human body itself is a study in Fibonacci relationships."

- Joe DiNapoli on page 132 of his book, Trading with DiNapoli Levels

Did you know …

On many plants, the number of petals is a Fibonacci number?

Buttercups have 5 petals; lilies and iris have 3 petals; some delphiniums have 8; corn marigolds have 13 petals; some asters have 21 whereas daisies can be found with 34, 55 or even 89 petals.

3 petals: lily, iris Often lilies have 6 petals formed from two sets of 3 as seen on the right:

5 petals: buttercup, wild rose, larkspur, columbine (aquilegia) The humble buttercup has been bred into a multi-petalled form.

8 petals: delphiniums

13 petals: ragwort, corn marigold, cineraria

21 petals: aster, black-eyed susan, chicory

34 petals: plantain, pyrethrum

55, 89 petals: michaelmas daisies

Some species are very precise about the number of petals they have - eg buttercups, but others have petals that are very near those above, with the average being a Fibonacci number.

Did you also know?

Many very successful traders also use the fibonacci sequence in their trading?

There's a shockingly simple way to put Fibonacci to work for you for better trading and bigger profits.

Learn how to maximize your gains, minimize your losses and predict key turning points - like clockwork! - when you discover how to trade like an expert military marksman using the explosive power and precision of Fibonacci analysis.

"Human expectations occur in a ratio that approaches Phi. Changes in market prices largely reflect human opinions, valuations and expectations. A study by mathematical psychologist Vladimir Lefebvre demonstrated that humans exhibit positive and negative evaluations of the opinions they hold in a ratio that approaches phi, with 61.8% positive and 38.2% negative."

The Golden Number - PHI or Φ = 0.618