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scalp the ES mini using fibonacci tool on ninja trader

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With respect and in a spirit of helpfulness to @broken8......I beg to deffer with @teamtc247 regarding the last sentence just above.

Perhaps on the surface Fibs seem like no big deal or straightforward but I think there is much more behind the curtain. That being said I really don't use them myself other than 50% retracements as I have a system of levels I create.

I would do a search for Fibonacci Queen in-addition to DiNapoli (Joe began trading in 1967 and is still) as I mentioned earlier.

I am fully aware Fibs have a bad name in many circles...mostly due to the erroneous application from novices.

I have studied them... in the end one has to use that which speaks to you.


It's all good, Ron, we all have different view points.

Most people teaching fib will be pushing Elliot Wave or Harmonic trading patterns.

I have taken a fib course, that's why I made that statement. If you have zero concept of fib, a course would give you the info.

Drawing a retracement from a high to low or a low to a high is not super challenging, or drawing a projection isn't super challenging either. Fibonacci clusters are when they intersect, so I am unsure how much more complicated you think it can be.

Fib, in my opinion, is just an added pro or con, like indicators, that's all they are. Scrape away all the drawing tools and indicators and what do you have? Price. What are indicators formulated off of, price? The only forward indicator, in my opinion, is price, the volume will help, but by the time you see the volume, the price has moved.

We all trade differently. In the spirit of helping @broken8, my intention was for him not to get caught up on years of indicators and drawing tools and miss the underlying price action.

Failing and anxiety are apart of learning something new. If you fail, get back up and push through the pain, and itís okay to be uncomfortable.
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