Fibonacci Queen | Trading Reviews and Vendors - futures trading strategies, market news, trading charts and platforms

Trading Reviews and Vendors

Discuss and review vendors of commercial trading products, trading rooms and services, trading indicators or third-party paid add-ons


Fibonacci Queen

  #61 (permalink)

Trading Experience: Beginner
Favorite Futures: MES
snax's Avatar
Posts: 756 since Feb 2019
Thanks: 2,825 given, 2,302 received

bobwest View Post

Maybe someone has some actual trading experience (not hindsight analysis of a chart) that will add to this discussion?


Well if my questionable experience counts for your definition of "actual experience"...
I plot them out every day to map out price areas between prior high-of-day/low-of-day to give myself context and frame-of-reference for where price has been and where it seems to be going. I also map out the extensions as well as stuff like Overnight high/low, prior close,etc. I see price behaving significantly around these fib-levels all the time, perhaps as a sort of self-fulfilling prophecy as someone else put it, or perhaps as sort of checkpoints along the way to more significant levels like yesterday's high or something. I get value out of them, others might not. just my 2 cents! Cheers!

Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to snax for this post: