Using Fib Numbers

Discussion in 'Trading' started by ChrisMMM, Mar 27, 2007.

  1. I am able to find good entries, however monitoring the trade and setting profit targets / stop losses is something that I am not good at. Do you guys find that using Fib numbers in this respect is something useful?
  2. pivot points and fibs both work but not perfectly.

    The best set up is when you find a strong trendline that converges with a fib or pivot
  3. I think fibs are good for entries mainly. I use the 62%, the 38% and 50% are very popular too.
  4. I always thought that "fib numbers" was a reference to exaggerated performance claims made by people who use the Fibonacci number sequence or ratios in their trading.