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


Are Fibonacci retracements and projections useful?
Updated: Views / Replies:131,122 / 434
Created: by Big Mike Attachments:82

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • 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.

-- Big Mike, Site Administrator

Thread Tools Search this Thread

Are Fibonacci retracements and projections useful?

  #1 (permalink)
Site Administrator
Manta, Ecuador
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
Big Mike's Avatar
Posts: 46,663 since Jun 2009
Thanks: 29,757 given, 85,485 received

Are Fibonacci retracements and projections useful?

Are fibonacci retracements and projections useful in a quantifiable way?

Vote and discuss.

Are Fibonacci retracements and projections useful in a quantifiable way?

Total votes: 306


Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

  #3 (permalink)
Elite Member
Huntington WV
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES, CL
TheTradeSlinger's Avatar
Posts: 430 since Jun 2015
Thanks: 714 given, 557 received

Absolutely not, and this is coming from someone that only trades the chart and price action.

Reply With Quote
  #4 (permalink)
Elite Member
Copenhagen, Denmark
Futures Experience: Advanced
Platform: Fib Fib and Fib.!
Favorite Futures: Setup
Posts: 299 since May 2011
Thanks: 55 given, 160 received

Can't live without it, in confluence with other tools.

Picture some combination / projection.

Attached Thumbnails
Are Fibonacci retracements and projections useful?-es-12-15-15-min-27-10-2015.png  

Last edited by jta3; October 27th, 2015 at 03:13 PM.
Reply With Quote
  #5 (permalink)
Elite Member
Murrells Inlet SC
Futures Experience: Advanced
Platform: Tradestation
Favorite Futures: ES, CL, ETFs
Inletcap's Avatar
Posts: 9,158 since Dec 2012
Thanks: 9,765 given, 25,893 received

Good thing about Fibs is that there is always one around and if you can't find one- just change your timeframe
Took me several years and thousands of hours/dollars to discover that...

Reply With Quote
The following 5 users say Thank You to Inletcap for this post:
  #6 (permalink)
Elite Member
seoul, Korea
Futures Experience: Intermediate
Platform: Multicharts
Broker/Data: CQG, DTN IQfeed
Favorite Futures: YM 6E
treydog999's Avatar
Posts: 895 since Jul 2012
Thanks: 291 given, 1,009 received

I voted no but it is possible, only because in general I am not a fan of subjective TA. Which includes trend lines, channels or anything else that if 1 person draws one way another person could draw another way.

However it is possible, the only issue here is determining an criterion that would determine the swing high to swing low. Simply off the top of my head, use a zig zag indicator and then have that draw a fib retracement. would work although the issues with zig zag are well known due to its redrawing. But conceptually it would be similar. Another method could be some highest high / lowest low of the some x group of bars etc etc.

possible yes, a lot of trouble for a small pay off is more likely. But then again you never know....

Reply With Quote
The following user says Thank You to treydog999 for this post:
  #7 (permalink)
Elite Member
canton mi
Futures Experience: Beginner
Platform: ninja xtrader
Favorite Futures: tf, es
Posts: 234 since Jan 2014
Thanks: 323 given, 145 received

i think they are in the since that they give you simple measurement. so if you wanted to look for at least situations, such as first target is 150 of prior swing. or price has to at least pull back 50% to consider scaling or what have you. along with vwap and other tools they serve as a measuring tool, like trend lines, not magical numbers. just my noob opinion.

Reply With Quote
  #8 (permalink)
Elite Member
Munich Germany
Futures Experience: Intermediate
Platform: NinjaTrader, MetaTrader
Broker/Data: S5
Favorite Futures: DAX, ES
MichaelH's Avatar
Posts: 52 since Dec 2013
Thanks: 73 given, 41 received

For me Fibs are useful in general.
But wondering about the quantifiable way. Wouldn't quantifiable mean having a statistic on our hand?
Just thinking what kind of question such a stat should be based on.

Looks quite difficult to me how such a stat could be build.

Reply With Quote
  #9 (permalink)
Elite Member
Portland, OR
Futures Experience: None
Platform: tos
Favorite Futures: S&P e-mini, Lumber Futures
Massive l's Avatar
Posts: 1,512 since Mar 2011
Thanks: 974 given, 2,005 received

The numbers themselves do not trigger fear/greed.
Price will do what price is going to do. -@Thatmanfromtexas

Reply With Quote
The following user says Thank You to Massive l for this post:
  #10 (permalink)
Elite Member
Capitol Heights, MD
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Global Futures/eSignal
Favorite Futures: ES
Posts: 12 since Apr 2010
Thanks: 41 given, 11 received

Sure, they are useful, and they can be "quantifiable" - if you mean that there are certain retracement and/or projection levels that are more significant than others. I have been using them for years with good results, once I understood that like most tools, they cannot be used in a vacuum. When used as relative measures of support and resistance - to be confirmed with other methods - they can be very useful.

Reply With Quote
The following user says Thank You to Morpheus for this post:


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)

Journal Challenge w/Earn2Trade and $599 in Prizes


Anthony Drager: TBA

Nov 29

Linda Raschke: TBA

Elite only

Peter Davies: TBA

Dec 6

Brannigan Barrett: TBA

Elite only

Cannon Trading: Ask Me Anything

Dec 13

Similar Threads
Thread Thread Starter Forum Replies Last Post
Autohiding for Fibonacci Retracements With Extentions zentrade ThinkOrSwim Programming 3 May 8th, 2013 08:36 PM
Indicator hunt - Eraseable Fibs, and Projections samadams The Elite Circle 3 August 18th, 2012 01:47 AM
ORP (Opening Range Projections) TAJTrades Traders Hideout 13 May 29th, 2011 04:17 AM
Price and time projections Scalpguy The Elite Circle 4 August 21st, 2010 03:13 PM
Fibonacci Retracements George NinjaTrader Programming 8 March 6th, 2010 06:19 PM

adam grimes, alerts, algos, ats, average, chat, confluence, convergence, crossovers, discretionary trading, dom, dow, ecosystem, elite, ema, email, es, expectancy, fed, feedback, fibonacci, futures, golden ratio, holy grail, holy_grail, how to, ichimoku, indicator, indicators, macd, market profile, order flow, patterns, pivots, point and figure, portfolio, position sizing, position_sizing, price action, psychology, quantify, research, resistance, retracement, retracements, risk-reward, russell, s/r, scaling, search, sp, strategy, support and resistance, tf, timeframe, trading, trend, trend lines, trendline, trendlines, type, universe, volume, volume profile, vote, vwap, wave

All times are GMT -4. The time now is 07:40 AM. (this page content is cached, log in for real-time version)

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432,
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 2018-11-16 in 0.13 seconds with 15 queries on phoenix