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I have never been able to see long term how to use Fibs consistently real time to take an entry or decide an exit, unless price agrees. Example, I will see the high for 4/2 was 1417.50, and could see this as a potential target, no Fibs needed.
Fibs, Murrey Math, etc, always look good after the fact, because price will hit one or more of the lines on the chart eventually. Question is, which one are you using consistently to make trade decisions on? And, what do these tell you that price does not? I realize you don't only trade using Fibs, but as a tool of many.
Gary
As consistently profitable traders.. "We get paid to wait, and we wait to get paid."
Fib levels would allow me to forecast the movement a lot easier,.... I follow the patterns and their Fib ratio. That makes me determine which Fib level i will take into consideration!! I hope this can answer your question?
Sorry, for the late reply! I was Long ES since 1390.0 my stop @ 1392.00 ...would have been ideal if not for the OPEN being above the CDV levels! and consequently a PIN bar on the 30 min. Otherwise on a strictly Daily sense, we are poised to move up !
Key Factor * If the dollar breaks down after lower highs .... ??? Maybe gunning for 200 dma leaving equites room for one last hoorah! before TSHTF
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
looking actually quite interesting, the 0% upstairs @ 1.3300 is calling it,
therefore i stand corrected about my 30min forecast using the Median Lines!
(the black line is the music 256 HoltEma)
