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Fibonacci Queen

  #61 (permalink)

Chicago
 
Trading Experience: Beginner
Favorite Futures: MES
 
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Posts: 756 since Feb 2019
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bobwest View Post


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

Bob.

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!

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