Fib Ratracement lines (eminis) PA or TI

Discussion in 'Index Futures' started by increasenow, Oct 12, 2007.

  1. are fib retracement lines "price action" or a "technical indicator"?
  2. they are a waste of time.
  3. fib retracement are hardly a "waste of time". the problem comes when people think they are magick (tm).

    they are simply frames of references.

    at a minimum, they are watched by other traders, so to SOME extent become sort of a self-fulfilling prophecy.

    they also help you define risk (and traders who don't define risk are gonna lose over time - period)

    i would never enter a trade simply because a price retraced to a fib level. that's silly imo.

    however, given a market i want to enter, i will look at fibs because i know they are likely to see supply/demand shifts (because other traders look at them), they help define risk, and they offer perspective
  4. increase what happened to the trading off of advance declines. I liked that strat
  5. 9999


    Great post.
    I couldn't have said it better.