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Are Fibonacci retracements and projections useful?
Started: by Big Mike Views / Replies:27,519 / 434
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Are Fibonacci retracements and projections useful?

  #421 (permalink)
Market Wizard
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xplorer View Post
Sure, but the reason I asked him the question is I wanted to give him an opportunity to explain. There may be a reason we're not aware of. Valid or not, regardless.

OK, but this is a question he should also explain to @Big Mike.

I'm willing to leave it up to Mike. It's amazing how much stuff finds its way into the forum, or how much would, if Mike did not keep a good grip on it.

We'll see a resolution soon enough. One way or another, it should not be happening, whatever the explanation.

Bob.

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  #422 (permalink)
Market Wizard
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bobwest View Post
It's amazing how much stuff finds its way into the forum, or how much would, if Mike did not keep a good grip on it.

Agreed. I for one like to stick around this forum because of its level of professionalism and high-quality threads/posts, especially compared to the trolling/negative attitude that goes on in other websites.

No problem with Mike running a tight ship. Just wondering what Marc's reasons might be.

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  #423 (permalink)
Trading for Fun
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Well coming from a 25 year old retail trader who has been studying for the markets for over 8 years, I would say yes they are.
But then again I am 25 years old and I am a retail trader.

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  #424 (permalink)
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@emptymind

If you have found a way that they work for you in your trading, then keep it up. Ignore all the negativity in this thread.

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  #425 (permalink)
Market Wizard
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Hickock View Post
@emptymind

If you have found a way that they work for you in your trading, then keep it up. Ignore all the negativity in this thread.

While there were negative opinions expressed, there was also, eventually, a broad understanding reached by many to use what works, and to leave it to others to do the same, for themselves, which is the largely tolerant point of view that many traders have on this forum.

So, by all means, use what works. It doesn't hurt to know the case for the other side as well; they may know a thing or two also.

Bob (a tolerant non-user ).

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  #426 (permalink)
Trading Apprentice
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Did not read all 42 pages...but...hopefully there is some acknowledgement that the Fib levels do offer support and resistance?

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  #427 (permalink)
Market Wizard
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DinkyMcAllister View Post
Did not read all 42 pages...but...hopefully there is some acknowledgement that the Fib levels do offer support and resistance?

Safest to say that Fibonacci is a bit like religion and politics added together. There are dogmatists and believers and non-believers and mockers and haters and disbelievers. Most polling research shows that nobody ever changed their mind as a result of an intellectual, political or existential debate, and there are plenty of deep reasons why that should be. Simple genetic structuring of morality concepts for starters.

In any case, support and resistance are merely transient virtual concepts, regardless of whether you attach them to a favourite zone or line - of random or non-random breeding.

Part of my non-existent soul is an echo from Pisa and I'm happy to continue working as an undercover agent for a local registered blind charity. It's easier than blowing raspberries, and we usually try to let Bob end a thread with a 'let's all agree to disagree' post, he's the nice guy amongst us.

Cheers

Travel Well
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  #428 (permalink)
Market Wizard
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ratfink View Post
It's easier than blowing raspberries, and we usually try to let Bob end a thread with a 'let's all agree to disagree' post, he's the nice guy amongst us.

Cheers



Bob.

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  #429 (permalink)
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bobwest View Post


Bob.

I forgot to say that most of my trading has been a form of charitable giving.

Travel Well
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  #430 (permalink)
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some MM's and Fib's


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