Fibs don't work

Beware of the well-chosen chart.

Fibonacci trading smacks of predetermination, which just doesn't sit right.

 

It looks like you are saying Fibonacci ratios sometimes work when drawn after-the-fact to fit some part of the price movement.

 

Fib levels are more effective as projection targets than they are in retracement zones which tend to be more elastic. They are effective as targets not because of sea shells or pyramid construction but because institutional algo's fire at those levels, targets, counter trend HFT algo's etc.. As long as the institutions use them, I use them.

 

Fibs don't work.
MM works.

 

Multiple 61.8% hits are what as known as price vibrating to a certain frequency believe it or not.

As for after-the fact gotta sleep sometimes, not to mention the high and low have to be in place before fib grid can be drawn.

 

Soooo then why don't they fire at retracements. The algo's don't want to and we can't make them?

Sorry, ridiculous.

 

I can find them all day long - while they are setting up.

 

Institutions follow Fibonacci ratios? I suppose it's possible, but it seems hard to believe. And couldn't you find maybe a dozen charts where fib numbers don't work for every chart you find where they do? Assuming you're not using the whole panoply of possible fib ratios, which pretty much cover the entire spectrum of movement or thereabouts.

 

You are on the right track, but retracements do work for exactly the same reason.

 

Well, if they're anything like the chart you posted earlier, then you're bound to become very rich very soon. Let me know how it goes so I can hit you up for a "loan." (One of those evergreens.)