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  #756 (permalink)

La Jolla, CA
Trading Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
Broker/Data: Advantage, Trading Technologies, OptionsCity, IQ Feed
Favorite Futures: CL, NG
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Posts: 1,040 since Jul 2010
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stephenszpak View Post
Two videos from eminimind. I mentioned that site a while back.
The trader uses Fibonacci a great deal. I was wondering if anyone
here has any strong opinions on that. Is it all in the eye of the beholder,
or just coincidence, or something useful??

Videos below. If you already have an opinion on Fibonacci, there would
be no need to see them of course.

First video in about 6E and Fibonacci.
Second video is about ES and Fibonacci. (the ES is off topic but it's
about Fibonacci really, so I hope that's ok.)

This is off topic but since he's trading the Euro, I'll add my two cents here. I hate to be critical of someone else's trading method really but I think fibonacci trading as a reason for entering a trade is a good way to step in front of a freight train. One of the biggest problems with using fibs for entries is determining whether you're drawing your anchor from the correct area. Fibs are excellent in using as an after the fact tool but as a sole trading tool, it can be random for sure.

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