# Fibonacci ratio apply

Hi guys,

Question:
A stock’s recent high was $100. A technician expects a retracement. Which of the following support levels is NOT based on the fibonacci ratio? •$66.70
• $65.00 •$60.00
Their solution:

$66.70 is 2/3 of$100. 2/3 is a fibonacci ratio.
$60.00 is 3/5 of$100. 3/5 is a fibonacci ratio.

In my idea, Fibonacci ratios is either 1.618 or 0.618 so I will take 100*0.618 to find support level but it’s not the case.

I don’t see any mention of the Fibonacci sequence anywhere in the current Level I curriculum.

This seems to be an outdated question.

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Noted with thanks. That said, it’d be nice if you can explain to me I would tend to agree with you: if anything were to be called the Fibonacci ratio, it would be the golden ratio:

\phi = \frac{1 + \sqrt{5}}{2} = 1.618034\cdots

The 2018 curriculum was, I believe, the last time technical analysis was included in Level I Quant. In it, it mentioned that Elliott looked at the ratios of successive numbers in the Fibonacci sequence, but it never referred to them as Fibonacci ratios.

Welcome to the world of third-party practice questions.

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Would a ϕ-th party provider have better questions??? Undoubtedly!

As would a 13th.

But not an 8th, nor a 21st.