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Are Fibonacci retracements and projections useful?
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Are Fibonacci retracements and projections useful?

  #11 (permalink)
Market Wizard
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This is almost a theological question.

Most of the people who think "yes" are very certain. So are most of the people who think "no." I'm not sure I have ever seen all that much to actually decide it one way or another, which doesn't seem to matter much to the believers, pro or con.

I really don't know, but I had to vote "no," because I'm not sure about the quantifiable question.

I think it comes down more to whether a person has been able to make use of them profitably. If so, fine, but that's the important question. As @Inletcap mentioned, you can find them just about anywhere. They are all over the place, but will they help when you are deciding on a trade, or help in the trade you are in right now? Not can you find them in hindsight, when it's easy to "see" how this was related to that, and had this ratio and that one, and so on and on....

So my slightly skeptical "I don't know" comes down to a "no" in practice, although I could entertain other possibilities. I'm not going to trade on them just yet, though.

Bob.

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  #12 (permalink)
Market Wizard
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from all of available ninja tools, fib tool makes the most sense to me (BBand makes the least sense). But diff start/end points draws diff levels so it is all in the eye of the artist.

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  #13 (permalink)
Patience my young padawan
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Superstition at its best


Nop.

What is the relationship of a Fibonacci "golden ratio or phi" with how markets behave? None.

Look at the phases of the moon instead and plot them in your chart. I am scorpio by the way. LOL.


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  #14 (permalink)
Super Moderator
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I think someone is gonna take this poll personally...

EDIT: I voted no because I don't believe the market really cares about anything you could possibly put on a chart.

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  #15 (permalink)
Market Wizard
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ElChacal View Post
Nop.

What is the relationship of a Fibonacci "golden ratio or phi" with how markets behave?...

I would answer greed. Markets are all about people's emotions, expectations, fear and greed. If the 50% or 100%, 127,2% extention is important to a lot of people as a target or entry level (read greed) then it matters.

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  #16 (permalink)
Patience my young padawan
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trendisyourfriend View Post
I would answer greed. Markets are all about people's emotions, expectations, fear and greed. If the 50% or 100%, 127,2% extention is important to a lot of people as a target or entry level (read greed) then it matters.

Well, you could state the same about at MACD (12,26,9) crossover and I don't believe in MACD's either. BUT if it works for you, that's ok.

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  #17 (permalink)
Hi Mom!
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Big Mike View Post
Are fibonacci retracements and projections useful in a quantifiable way?

Vote and discuss.



Mike

They're bunk. Trading juju. The dude was trying to figure out a puzzle about how fast rabbits could theoretically multiply. Why they've been adopted as some sort of trading magic is anyone's guess. No one can prove they work.

Here's a 2 part article Adam Grimes wrote testing their efficacy.

Testing Fibonaccis (1/2) - Adam H Grimes

http://adamhgrimes.com/blog/fibonacci-conclusions-22/

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  #18 (permalink)
Energy futures Superfreak
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On ES, i see critical price action at 50% all the time. I use fibs for targets, not trade entries.

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  #19 (permalink)
Capt. Johnny Jameson
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No, they're bullshit...if you know how to read context.

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  #20 (permalink)
 R.I.P. 1987-2018 
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I voted yes

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
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