As soon as the market recovers,make a quick rally and then retrace a bit,Fibonacci threads start popping up.
I've noticed that most people only remember the few times when predictive methods work out, not when they fail. Fib levels are fun to play with, but guessing is guessing.
I would not actually use them in a predictive manor. More of levels to ask "If this, then do that", or "if that, then do this."