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


Are Fibonacci retracements and projections useful?
Started: by Big Mike Views / Replies:27,518 / 434
Last Reply: 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?

  #431 (permalink)
Trading for Fun
Escondido
 
Futures Experience: Intermediate
Platform: Multicharts
Favorite Futures: eminis
 
Posts: 69 since Nov 2015
Thanks: 17 given, 82 received

Or, with the benefit 8 more hours :)

Or, later in the day...

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

Reply With Quote
 
  #432 (permalink)
Risk--->0 $--->∞
Chicago, IL
 
Futures Experience: None
Platform: NT8,NT7,TWS,FOREX.COM app
Broker/Data: InteractiveBrokers, NinjaTrader Brokerage FOREX.COM, IQFeed
Favorite Futures: ZF, ZN, ZB, ES, FX pairs
 
Blash's Avatar
 
Posts: 1,329 since Nov 2011
Thanks: 3,673 given, 1,845 received
Forum Reputation: Legendary


Big Mike View Post
Are fibonacci retracements and projections useful in a quantifiable way?

Vote and discuss.



Mike

I have to say yes they are. But, not how most use them. I use them on big time frames, had training for them and only use extensions to define ranges and project with that measurement.

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).

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).



I do not believe using fibs inside the RTH or on short time frames with all the small levels like 23.6%, 38.2%, 61.8% 76.4% has merit.

I consider trading an art form. You practice it.

Ron

It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Reply With Quote
 
  #433 (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: 3,632 since Oct 2009
Thanks: 2,949 given, 4,385 received



Blash View Post
...

I do not believe using fibs inside the RTH or on short time frames with all the small levels like 23.6%, 38.2%, 61.8% 76.4% has merit.

I consider trading an art form. You practice it.

Ron

You might like this guy who shares his trade ideas on FF and is a big fan of fibs and harmonic trading. I am mostly a volume profile trader but found inspiration in his teaching. Now i see a lot of similarities between volume profile and fibonacci analysis. He trades the morning session mostly on the YM.

https://www.youtube.com/watch?v=QCc47vNuDiw

Reply With Quote
The following 2 users say Thank You to trendisyourfriend for this post:
 
  #434 (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: 3,632 since Oct 2009
Thanks: 2,949 given, 4,385 received


Big Mike View Post
Are fibonacci retracements and projections useful in a quantifiable way?

Vote and discuss.

Mike

Hi,

I think i found a relevant and thought provoking study regarding your question:
Fibonacci Retracement: Is it a Myth or Reality?

I particularly liked his algo definition to identify the many swings.

Good reading.


Quoting 
...we don’t observe peaks or troughs around certain correction levels which would be true if Fibonacci reversals were indeed significantly distinct events.


Quoting 
...there is a high probability that the correction will occur somewhere nearby one of Fibonacci levels. By chance alone!

...83 % percent of 40,243 examined corrections are contained between the level of 15 % and 61.8%.


Quoting 
With any charting technique, there’s a human tendency to look at the chart and “only see” cases where the rule holds. We ignore the multitude of cases where the rule doesn’t hold.


Quoting 
My conclusion from this study is that Fibonacci retracement levels do not represent a real phenomenon. Rather, retracements within these zones can be explained by statistical chance alone.



Last edited by trendisyourfriend; March 4th, 2017 at 11:59 AM.
Reply With Quote
 
  #435 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: AOL
Favorite Futures: Lumber
 
Itchymoku's Avatar
 
Posts: 2,846 since Apr 2012
Thanks: 1,643 given, 3,503 received

Futures Edge on FIO
What is the difference between a pull-back and new range? Usually a range is 85% - 100% or more of the previous leg, while a pull back can as great as 75%. There's a large grey area between 61% - 76% and after that's usually deemed uncertain. Likewise if there's a pull back of anything less than 25% it's not really considered a clear enough pull back to entertain based on technical analysis alone. It seems to be there's a sweet spot between 23-76% hitting all the popular fibs for a pull back and gives cushion for a stop loss before or around 100%. Somehow this coincides with Fibonacci because anything else would be range or momentum trading.


Last edited by Itchymoku; March 5th, 2017 at 12:49 AM.
Reply With Quote

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)
 

Mastering Trading Pysychology w/Brett Steenbarger & Trading Technologies

Elite only

PTMC Protrader Platform First Look w/Sergey Sokolov

Elite only

Spring Grains Outlook w/Sean Lusk @ Walsh Trading

Elite only

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

April

Process above all else w/Anthony Crudele @ Futures Radio Show

Elite only

Machine Learning - Quantitative Trading w/Martin Froehler @ Quantiacs

Elite only

Market Dynamics w/Peter Davies @ Jigsaw Trading

Elite only

Ask Me Anything w/Patrick Rooney @ Trading Technologies

Apr 18

Ask Me Anything w/FuturesTrader71

Apr 19

Machine Learning w/Kris Longmore

Elite only

Market Analysis w/Dave Forss

Apr 25

Introducing iSystems with Stage 5 Trading

Apr 27
     

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 10:17 PM.

no new posts
Page generated 2017-03-23 in 0.10 seconds with 20 queries on phoenix via your IP 54.157.210.33