human
With regards to the Fibonacci retracement, why is it called the Fibonacci retracement?
assistant
Fibonacci was an Italian mathematician who discovered this retracement. He was trying to find a mathematical formula for predicting the price of gold. He found that if he took the previous price and divided it by the current price, then took the previous price and added it to the current price, he got the same result. This pattern is known as the Fibonacci sequence, and is a very important mathematical pattern.