I know institutional trading firms pay attention to fib-levels so I do. I've seen significant price action around them long enough to stay on the look out for them: http://priceandpattern.blogspot.com/
i'm learning more about fibs and see that tradethemove.com has good reviews by traders. can anyone share their experience and is the $125 manual worth it? i'm currently going through carolyn boroden's, and rick lapoint's site...pretty good so far. i would appreciate any comments regarding tradethemove.com.
The best thing about Fibs is that they can make you more aware of support and resistance levels after you draw them on a chart. Are they really predictive of price action? Maybe, maybe not, but applying some mystical, cosmic schtick to your trading via Fibonacci is totally absurd and ill advised.
[Perseus] bris, I don't take anyone's opinion on face value, especially on an internet forum. There are beliefs, like a belief in santa claus, and there are justified beliefs like the sun will rise in the east in the morning. I am not interesting what someone merely believes, I would like to know the justification behind it. What is the justification behind "the justified beliefs like the sun will rise in the easet in the morning"?