Fibonacci's Or At Least How I Use Them...

[rod178]

I think that the Fib isn't an end all be all. In conjunction with other tools it is extremely valuable. Any joker can draw a fib, but not everyone can use it In conjunction with other tools or concepts to drill down precise entries.

Cheers,

Sure, it is valuable as a retracement/extension tool

My issue point however is that I do not believe that the actual fib ratios have ant special meaning, eg 61.8. ie the so call 'natural order of the Universe' numbers do not have any special meaning for trading.

 

[the golden gun]

If only that were so.

Being a 'quantitative' 'type' I require strong evidence, if not proof. The evidence I have seen does not support the effectiveness of Fibs as a Trading tool.

Pick any retracement ratio between 50 and 90, just as indicative as 61.8, except 'possibly' for a short term self fulfilling prophesy aspect.

I'd actually be very interested if someone could produce some evidence otherwise. Someone surprise me and supply actual hard evidence that Fibs represent the natural order of the Universe, as applicable to Trading.

I would be fine with you never using fibs in your trading again.

 

[rod178]

I would be fine with you never using fibs in your trading again.

Fibs only work well in hindsight, real traders should use Order Blocks rather than magic Fib numbers.

 

[sakib717]

Fibs only work well in hindsight, real traders should use Order Blocks rather than magic Fib numbers.

because of fibonacci i lost many trading opportunity, i was blaming fibo for it but i realize its not fibo fault when i started using fibo with "dealing range" concept i was shocked ! nothing hindsight just use it with dealing range you will get the best result ever !

when you use fibo with dealing range you will get the magical entry point !

 

[rod178]

because of fibonacci i lost many trading opportunity, i was blaming fibo for it but i realize its not fibo fault when i started using fibo with "dealing range" concept i was shocked ! nothing hindsight just use it with dealing range you will get the best result ever !

when you use fibo with dealing range you will get the magical entry point !

Nothing magical. Its the dealing Range or Order Block

 

[sakib717]

Nothing magical. Its the dealing Range or Order Block

you need those fibo level otherwise you cant figured out where you at and what place you want to hunt.......

 

[rod178]

you need those fibo level otherwise you cant figured out where you at and what place you want to hunt.......

... any retrace / extension (say 67%) that limits risk and falls upon an Order Block, or whatever. The actual Fib Numbers are merely a comfortable delusion.

 

[sakib717]

... any retrace / extension (say 67%) that limits risk and falls upon an Order Block, or whatever. The actual Fib Numbers are merely a comfortable delusion.

ok lets pick the magical ratio !

go to weekly chart pick a large range and divided into 50% then divide 50% to 50% just like ICT equilibrium concept you will get the real S/R level !

just think it normally fibo level makes range percentage nothing else !

a 100% range divided into 62% 70.5% 79%

Price generally moves through the market in waves and Fibonacci can be thought of as a tool to measure this progress. This is important to us because the use of Fibonacci is so ubiquitous; many traders, including institutional traders, pay very close attention to these waves. It is important that we are able to clearly see the significant waves in whatever time frame we are studying. Recognizing the important swings is key to properly applying our Fibonacci tools to the charts. (copied from Dick Thompson article)

except 70.5%, 70.5% level was invented by ICT

if you have time to read : Forex Revolution, An Insider's Guide to the Real World of Foreign Exchange Trading - Peter Rosenstreich

you will see an interview with Joachim Herr

Joachim Herr is the head of risk management at BMW
International.

they use PPP equilibrium concept to hedge currency !

you cant imagine how power full it is !

 

[rod178]

ok lets pick the magical ratio !

go to weekly chart pick a large range and divided into 50% then divide 50% to 50% just like ICT equilibrium concept you will get the real S/R level !

just think it normally fibo level makes range percentage nothing else ! ....

50% is not a Fibonacchi number
After that any retracement number will be as good as any 'real' Fib number