I've posted this many times before and I'm sure will do it many more times:- Sept 3rd, 1929 (date sound familiar, year anyway?) Time, price, momentum and pattern. So-called self-fulfilling prophecy even though Elliott and common knowledge of Fibs hadn't happen yet. How's that?
So what are you saying? That Fibs were working even before someone discovered them? I could not understand all the numbers on your chart?
Fair enough but anything can be found to confirm one's belief by searching. You know that. Here is an ES example earlier today hitting 50% level,. Yeah, yeah some say it's not a fib ratio. Whatever. But notice the green anchor lines, not as typical drawn from highest high and lowest low. Testing would label that a loser. But the way I was taught is to ignore the outlying candle wicks and use close of the bar. Don't care about all those losing traders caught when a bar reversing significantly before it closes. Hit level, reversed and closed near top of the bar. Then took out that high on the next 5 min bar.
Fibs is like religion, you have beliefs that your god will save you or make you money, but it hasn't happened yet but it will in the future. The future only arrives after you are dead or account blown up. Always the same song, "woulda shoulda coulda".
I thought it would be obvious that yes they worked then. They work now. Some are Fib Price Projections (APP and Ex Ret) and Fib Time Projections (TCR and ATP) - the ratios used are right on them, projecting prior swing lows and highs to crash high.
I asked him earlier what did he find that works. Response ... crickets. Seems what works for him is to throw rocks at what he can't ... make work.