Fibonacci Fans!

Discussion in 'Technical Analysis' started by easymon1, Jan 16, 2023.

  1. maxinger

    maxinger

    [​IMG]

    I am a fan of fibo on seashells.

    Fibo works perfectly on seashells (and not trading).
     
    Last edited: Jan 16, 2023
    #11     Jan 16, 2023
    MKTrader likes this.
  2. Sergio123

    Sergio123

    I would use the Fib Extension from the 3.13 low on 7/18/22 to the 3.96 high on 11/14/22 back down to the 3.72 low on 1/5/23. The next move I would trade is a long to the 4.24 61.8% level.
     
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    #12     Jan 16, 2023
    easymon1 likes this.
  3. easymon1

    easymon1

    Lotta coincidences in there...
    A simple price action trader such as meself could watch for something like an engulfing at 62%, or 27%, or hell, any of them lines and test those to see what's what. ...Or pay a 5th grader to do the work for a buck a line till a proper number are recorded and screenshot. Maybe let them do some math on a spreadsheet to compute some probabilities if they bahave. Not a bad deal for a hundred bucks.

    delete.png
     
    #13     Jan 16, 2023
  4. easymon1

    easymon1

    Last edited: Jan 16, 2023
    #14     Jan 16, 2023
  5. Sergio123

    Sergio123

    How I use them is that I try to find pivots on longer timeframes and look to take long or short positions to reach key Fibonacci levels and then combine it with a trend strength indicator and an overbought/oversold indicator to determine if the move will have enough strength to reach the key fib level.

    It is showing a strengthening trend on the daily chart. If it holds then I would hold the trade until the 100% 4.5693 level.
     
    Last edited: Jan 16, 2023
    #15     Jan 16, 2023
    easymon1 likes this.
  6. Fibonacci, sounds like alcohol? Dry White?
    Sorry nothing to offer.
     
    #16     Jan 16, 2023
  7. MKTrader

    MKTrader

    Just order my $1,997 course and I'll teach you decipher it and make a fortune...along with the secrets W.D. Gann took to the grave.
     
    #17     Jan 17, 2023
    murray t turtle likes this.
  8. schizo

    schizo

    Just come over to the ES Journal and join me in posting real time trades. If you're as good as you claim, I don't see why that should be a problem. After all, I do it all the time.
     
    #18     Jan 17, 2023
  9. maxinger

    maxinger

    upload_2023-1-17_14-39-36.png

    Chartists are getting very creative.
     
    #19     Jan 17, 2023
  10. easymon1

    easymon1

    #20     Jan 17, 2023