Are Fibonacci retracements and projections useful? - Traders Hideout | futures io social trading
futures io futures trading


Are Fibonacci retracements and projections useful?
Updated: Views / Replies:29,411 / 434
Created: by Big Mike Attachments:82

Welcome to futures io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Reply
 82  
 
Thread Tools Search this Thread
 

Are Fibonacci retracements and projections useful?

  #271 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES
 
Posts: 3,604 since Jan 2013
Thanks: 26,371 given, 10,992 received
Forum Reputation: Legendary


srgtroy View Post
That said, you may have opened the door for some fib porn this weekend, my friend, and that's on you!



Bob.

Reply With Quote
The following 2 users say Thank You to bobwest for this post:
 
  #272 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/Rithmic
Favorite Futures: ES, NQ
 
trendisyourfriend's Avatar
 
Posts: 3,641 since Oct 2009
Thanks: 2,956 given, 4,402 received


srgtroy View Post
...

That said, you may have opened the door for some fib porn this weekend, my friend, and that's on you!

Source: Weekend Report Friday November 13th

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
 
  #273 (permalink)
Retired Donkey Trader
Los Angeles, Republic of California
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: ES, Mongolian Horse Futures
 
srgtroy's Avatar
 
Posts: 1,440 since Jan 2011
Thanks: 1,002 given, 2,189 received



trendisyourfriend View Post
Source: Weekend Report Friday November 13th

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

I can't speak for Elliot Wave because I really don't know anything about them. I'm more interested in Fibs alone because they utilize the Golden Ratio which appears throughout Nature. I don't know that Elliot Waves are as universal.

At any rate, when it comes to fib 'porn', those are some 'nasty' charts...

Reply With Quote
The following 2 users say Thank You to srgtroy for this post:
 
  #274 (permalink)
Webinar Host
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
Favorite Futures: JDAM
 
tturner86's Avatar
 
Posts: 5,700 since Sep 2013
Thanks: 9,781 given, 10,906 received
Forum Reputation: Legendary


trendisyourfriend View Post
Source: Weekend Report Friday November 13th

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Your images are so small they are unviewable...

Reply With Quote
 
  #275 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/Rithmic
Favorite Futures: ES, NQ
 
trendisyourfriend's Avatar
 
Posts: 3,641 since Oct 2009
Thanks: 2,956 given, 4,402 received


srgtroy View Post
I can't speak for Elliot Wave because I really don't know anything about them. I'm more interested in Fibs alone because they utilize the Golden Ratio which appears throughout Nature. I don't know that Elliot Waves are as universal.

At any rate, when it comes to fib 'porn', those are some 'nasty' charts...

I think Elliot Wave and the Golden ratio exist together and are connected with each other.

@tturner86 i have included the source of the pictures where you can see them all in full glory.

Reply With Quote
The following 2 users say Thank You to trendisyourfriend for this post:
 
  #276 (permalink)
Elite Member
Dresden, Germany
 
Futures Experience: Intermediate
Platform: tradingview + selfmade SW
Favorite Futures: mostly futures and forex
 
Posts: 78 since Sep 2014
Thanks: 298 given, 44 received


srgtroy View Post
I can't speak for Elliot Wave because I really don't know anything about them. I'm more interested in Fibs alone because they utilize the Golden Ratio which appears throughout Nature. I don't know that Elliot Waves are as universal.

At any rate, when it comes to fib 'porn', those are some 'nasty' charts...

Lots of ratios that aren't the "golden" one exist in nature as well. And the number "1" comes up even more often. You really should base your trading on that number, it's obviously supernatural.

edit: That is not to pass any judgement on whether fibs work or not. I just find the rationale of believing in fibs based on nature lacking.


Last edited by skoa; November 14th, 2015 at 03:14 PM.
Reply With Quote
 
  #277 (permalink)
Market Wizard
Birmingham UK
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: IG/eSignal
Favorite Futures: Dax
 
ratfink's Avatar
 
Posts: 3,083 since Dec 2012
Thanks: 10,246 given, 6,320 received
Forum Reputation: Legendary

cop porn


srgtroy View Post
I cannot tell you whether price will get there and what it will do if it does -- anymore then a volume profiler can tell you if price will reach a poc and/or go through it, or anymore then a VWAPer can tell you if price will hit a VWAP and what it will do after that. Fibs are just another form of market structure. Nothing more, nothing less.

Exactly.


srgtroy View Post
That said, you may have opened the door for some fib porn this weekend, my friend, and that's on you!

I like Dow popcorn today. I did away with overcomplicating the wave analysis a long time ago when I realised it only leads to bias and dogma. Now I want the narrative, what's the motive and who did it - was it really Colonel Mustard in the kitchen with the lead piping? What are the alternative story endings? And who gets to choose?


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Travel Well
Reply With Quote
The following 2 users say Thank You to ratfink for this post:
 
  #278 (permalink)
Retired Donkey Trader
Los Angeles, Republic of California
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: ES, Mongolian Horse Futures
 
srgtroy's Avatar
 
Posts: 1,440 since Jan 2011
Thanks: 1,002 given, 2,189 received


skoa View Post
Lots of ratios that aren't the "golden" one exist in nature as well. And the number "1" comes up even more often. You really should base your trading on that number, it's obviously supernatural.

edit: That is not to pass any judgement on whether fibs work or not. I just find the rationale of believing in fibs based on nature lacking.

I never said anything about fibs being supernatural. In fact, its quite the opposite, they are as natural as it gets, which is why they appear in everything from spirals in a galaxy to flowers and bee colonies. There are some other common ratios in nature like pi or "e", but i find phi (the golden ratio) to be the most interesting one.

Comparing phi to 1 is apples and oranges...

Reply With Quote
The following 3 users say Thank You to srgtroy for this post:
 
  #279 (permalink)
Elite Member
Naperville IL
 
Futures Experience: Intermediate
Platform: ninjatrader
Broker/Data: NT broker
Favorite Futures: NQ ES 6E GC CL
 
Posts: 951 since Feb 2010
Thanks: 1,184 given, 646 received

Fib looks beautiful after fact, always

Reply With Quote
 
  #280 (permalink)
Market Wizard
Philly, Pa
 
Futures Experience: Master
Platform: NinjaTrader
Favorite Futures: ES, ZB
 
tigertrader's Avatar
 
Posts: 5,929 since Jul 2010
Thanks: 6,300 given, 31,495 received
Forum Reputation: Legendary



srgtroy View Post
I never said anything about fibs being supernatural. In fact, its quite the opposite, they are as natural as it gets, which is why they appear in everything from spirals in a galaxy to flowers and bee colonies. There are some other common ratios in nature like pi or "e", but i find phi (the golden ratio) to be the most interesting one.

Comparing phi to 1 is apples and oranges...

similar sentiment...

but, personally i like "pho"

had some yesterday, at the in-laws

the reaction was as "natural-as-it-gets."

and, gave new meaning to the term"golden ratio"

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Last edited by tigertrader; November 15th, 2015 at 02:24 PM.
Reply With Quote
The following 3 users say Thank You to tigertrader for this post:

Reply



futures io > > > Are Fibonacci retracements and projections useful?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

FIO Journal Challenge featuring NinjaTrader ($2,000+ of prizes)

May

An overview of volumetric analytical tools w/Sergey Sokolov @ PTMC

Elite only

John Hoagland (TBA)

Elite only

FuturesTrader71 Extended Ask Me Anything (AMA)

Elite only

Pete @ Jigsaw Trading (TBA)

Elite only

John @ No BS Day Trading (TBA)

Elite only

An Afternoon with FIO member Softsoap (being rescheduled)

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Autohiding for Fibonacci Retracements With Extentions zentrade ThinkOrSwim Programming 3 May 8th, 2013 07:36 PM
Indicator hunt - Eraseable Fibs, and Projections samadams The Elite Circle 3 August 18th, 2012 12:47 AM
ORP (Opening Range Projections) TAJTrades Traders Hideout 13 May 29th, 2011 03:17 AM
Price and time projections Scalpguy The Elite Circle 4 August 21st, 2010 02:13 PM
Fibonacci Retracements George NinjaTrader Programming 8 March 6th, 2010 05:19 PM


All times are GMT -4. The time now is 03:07 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-05-28 in 0.14 seconds with 20 queries on phoenix via your IP 23.20.157.174