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Tribute to Fibonacci

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This topic contains 6 replies, has 4 voices, and was last updated by  Charles Booth 1 week, 2 days ago.

Viewing 7 posts - 1 through 7 (of 7 total)
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  • #100541

    Fidelio no2nd…
    Participant
    • Topics: 1
    • Replies: 18

    Hello traders,

    Without ruling out the downward channel in place since May 3rd, did you realize that most of the main recent S/R levels on the daily derive directly from the 24Jun2016 candlestick Fibonacci levels?

    https://www.tradingview.com/x/yN4ui9Sp/

    #100542

    Fidelio no2nd…
    Participant
    • Topics: 1
    • Replies: 18

    P.S. on EURUSD

    #100544

    Jordi Pararols
    Participant
    • Topics: 0
    • Replies: 127

    Dear Fidelio,

    in my humble opinion, Fibonacci is nothing more than another tool to measure or calculate the movement of the price. If you use it alone can be totally ineffective or very risky. However, if you use it as a support for price action along with instruments that measure momentum, volatility…, then, Fibos can be very helpful. For me, Bollinger Bands, Candlestick formations, RSI and S/R are the best tools to use. This is just MY opinion.

    However, I think that what it really works is to repeat blindly once and again “a system” that fits your personality, a system with which you fell comfortable.

    #100600

    c
    Participant
    • Topics: 0
    • Replies: 65

    I total agree with Jordi Fidelio, I found fibos very useful to go in out my trades but always keep an eye in cs and bbs ,and yes like you draw is almost finish the sequence, thanks .

    #121728

    Fidelio no2nd…
    Participant
    • Topics: 1
    • Replies: 18

    Not such a bad predictor after all, in this case at least:

    https://www.tradingview.com/x/lHXx7Dfy/

    #121729

    Fidelio no2nd…
    Participant
    • Topics: 1
    • Replies: 18

    What could be next? Retracement to 1.0500 – 1.0580 (C) before downtrend resumption to 1.01 (D) or even to parity?

    https://www.tradingview.com/x/lHXx7Dfy/

    #123007

    Charles Booth
    Participant
    • Topics: 1
    • Replies: 210

    Attached is a pdf with a early study of the effectiveness of using the fibs as a system to trade currencies and stocks. I found it fascinating and a good quick read.
    Enjoy!

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