Hi there everyone, I am new to all of this (forex), but i have been learning through ebooks and reading a lot here and there trying to figure out whats the best analysis we can get from a chart.
Fibonacci levels seems to rule our fear and greed...and its kind of a dogma that investors and speculators have been trying to be loyal since ever. As the market is driven by big fish we want to keep up with them and think like them.
The same applies to Elliot Wave analysis (1938).
I have been thinking this for a long time and I guess there is no better strategy than combining Elliot wave analysis and Fibonnaci levels (and maybe an indicator like momentum or/and rsi) as this are the older methods of analysis.
As I say, "enough of parlapié..."
I draw some lines...and I basically want your opinion about that. thanks in advance
http://img23.imageshack.us/img23/4842/14mar0353.jpg
Fibonacci levels seems to rule our fear and greed...and its kind of a dogma that investors and speculators have been trying to be loyal since ever. As the market is driven by big fish we want to keep up with them and think like them.
The same applies to Elliot Wave analysis (1938).
I have been thinking this for a long time and I guess there is no better strategy than combining Elliot wave analysis and Fibonnaci levels (and maybe an indicator like momentum or/and rsi) as this are the older methods of analysis.
As I say, "enough of parlapié..."
I draw some lines...and I basically want your opinion about that. thanks in advance
http://img23.imageshack.us/img23/4842/14mar0353.jpg