The only way to trade with fibonacci

How is that picture useful if you didn't know price was going to reverse there ahead of time in order to place your trades?

 

There is no way of knowing these things in advance, but knowing what price is most likely to do, can lead to hits of where it might go.

 

Repeat over and over. Probabilites not certainties. This goes for anything including trading.

 

What I like about fibs is that there are so many flavors of the tool. While most people just use the standard retracement, I might start looking into other kinds of fibonacci like

fib spirals
fib arcs
fib time ratios
fib fans


Here is a fib spiral on cstr. I drew the spiral from the retracement, top to bottom, and we get 5 spiral zones..sometimes theyre off the screen depending on size of retracement. But we can see after the fact, that the spiral held true to price showing 4 levels of support. Interesting.

I dont trade with these, but I do find them rather cool.

 

Here is a fib arc measuring the most recent price action for rimm off a daily. We can see that already price had hit support twice along the arc..same as flat fib lines, except curved.

 

Fib time ratios, I like these and might add them to my arsenal..they dont show s/t, but rather try and estimate where the next big move in price will accure.

Here is x on a daily and I used time ratios to measure the last retracement down.. the ratios were able to show me where price was starting to rise up very nicely, but also it showed me the top, just days before the market crashed (which i think was news related)

I'll also post a chart thats in play. Here is wynn on a 30min over 4 days. The time ratio is right on price telling me something should be happening soon...lets see how todays price action pans out.

 

wynn

 

Any method that utilizes the X axis on a chart is very useful.

 

fib delusion
fib fantasy
fib fibs
fib trance
fib tealeaves
fib chickenentrails

 

If "devil's advocate" means discrediting methods that have been debunked, then I am almost willing to consider that as a user ID...

The definition of serious trading, includes TESTING, BACKTESTING, WALK-FORWARD TESTING, VALIDATION. Perhaps you have heard of these things.. There is none of that in this thread.

elit and konviction are completely off the wall, falling in love with examples and other pretty terminology.

There are newbies here taking these delusions seriously. I would be very happy if they would dismiss unsubstantiated manure and focus on learning how to trade.