What is Fibonacci sequence in simple words?

The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding ones, usually starting with 0 and 1. In simpler terms, each number in the sequence is found by adding up the two numbers before it.

The sequence begins like this:

0, 1, 1, 2, 3, 5, 8, 13, 21, 34, ...

Here's how it works:

• 0 + 1 = 1

• 1 + 1 = 2

• 1 + 2 = 3

• 2 + 3 = 5

• 3 + 5 = 8

• 5 + 8 = 13

• And so on...

The Fibonacci sequence is named after Leonardo Fibonacci, an Italian mathematician who introduced it to the Western world in his book "Liber Abaci" in 1202. The sequence often appears in various natural phenomena and has applications in mathematics, art, and computer science. It's also used in technical analysis in financial markets, where Fibonacci retracement levels are applied to charts to identify potential support and resistance levels.