Hi, I have not looked at Fibonacci retracement, Fibonacci extension, etc., for two years. It is time for revision. Are there any good books or articles about Fibonacci levels ? Thanks.
The following is my favorite video for Fibonacci levels: http://www.youtube.com/watch?v=878iiQ4yQOk I also bought Carolyn Boroden's book a while ago. Any recommendations would be appreciated.
Her book is Robert Miner - She learned from him and just re-packages. That is the best book, Dynamic trader. He taught a few of us at our firm his methods and I can say that ir works once you believe in it and trade it properly.
Agree, just open a charts, scroll back in history and draw some lines to see how it worked for whatever you trade. If you need free calculator, you may find it at Free Fibonacci Calculator Another free Fibonacci calculator for stocks and ETFs at Free Fibonacci Calculator for Stocks and ETFs
Not dismissing Fibonacci or lines of any kind, but the phrasing of your comment brought the concept of random lines to mind. http://www.youtube.com/watch?v=lxXAFNGB0mY I've said for a long long time... at the end of the day, a line on the screen is just a line on the screen. Nothing more nothing less. The person looking at the line, not the market, brings meaning to the line or not.
Fib retracements give you some great points to work from on your charts.. especially if you find that the level is converging with an already tested support or resistance level. I also use fib pivots for trading ftse.. They seem to give out much more significant levels than standard pivots, and yeah, I have compared them on a historic chart and back tested.. You can get them here: http://www.livecharts.co.uk/Members/display_stock_pivots.php
boroden posts a free nightly video, usually about 3 minutes long, where see goes over fibs on a stock...