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

  #21 (permalink)
Hi Mom!
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Devil Man View Post
No, they're bullshit...if you know how to read context.

Are they not bullshit if you don't know how to read context?

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  #22 (permalink)
Capt. Johnny Jameson
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TheShrike View Post
Are they not bullshit if you don't know how to read context?

the point was that if you know how to read context, you would probably not put much weight on fib's...or ma's...or most any other indicator.

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  #23 (permalink)
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hobart View Post
On ES, i see critical price action at 50% all the time. I use fibs for targets, not trade entries.

50 is not a fibonacci number.

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  #24 (permalink)
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Devil Man View Post
the point was that if you know how to read context, you would probably not put much weight on fib's...or ma's...or most any other indicator.

I know, I was just bustin ya balls.

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  #25 (permalink)
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TheShrike View Post
I know, I was just bustin ya balls.

I know ....it was for all the other non-ball bustin' traders here lol

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If someone can find a recurring pattern in fibs and price action with a positive expectancy then they are useful.

Psychology > Strategy ≥ Money

Last edited by Massive l; October 27th, 2015 at 08:36 PM. Reason: then instead of than
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The 50% retracement level is not really a Fibonacci ratio, but it is used because of the overwhelming tendency for an asset to continue in a certain direction once it completes a 50% retracement. -Investopia

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  #29 (permalink)
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cory View Post
The 50% retracement level is not really a Fibonacci ratio, but it is used because of the overwhelming tendency for an asset to continue in a certain direction once it completes a 50% retracement. -Investopia

Overwhelming tendency eh? Show me the data.

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Massive l View Post
If someone can find a recurring pattern in fibs and price action with a positive expectancy than they are useful.

Amen...

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