Here's a great article for beginners (and some intermediate traders) on proper fibonacci analysis: http://www.learningmarkets.com/inde...ne&catid=39:options-finding-trades&Itemid=148
Fib doesn't work. Neither do round numbers. They are no more advantageous than random. This has been proven by several studies. Unless of course, you intend to demonstrate the opposite. What next, how to use Pitchforks like a pro??? Gann?? Astrology?? So much for your value add. Proper analysis of useless indicators...
Technical analysis, like fundamental analysis is too broad to say that one method does or does not work. It is a matter of how it is applied in conjunction with appropriate risk control, diversification, money management etc. From that perspective, fibonacci analysis is one of the most useful tools I can use to try and manage my risk and look for opportunities. In this video I will look at how Fibonacci fans are used and why they can be really helpful in a trend. Check it out here: http://www.learningmarkets.com/inde...-2&catid=39:options-finding-trades&Itemid=148
Time studies are one of my favorite forms of fibonacci analysis. It can be really wild how closely they coincide with periods of market volatility. I usually compare time studies to the fundamental equivalent of listening to and planning for an earnings call. Here is a video about what these are and how they can be used with retracements or fan lines. http://www.learningmarkets.com/inde...ee&catid=39:options-finding-trades&Itemid=148