If you think about it ,its all psychology ,in a free market the chart is man made by the best minds ,I honestly believe mostly there too big to be pushed around for extended periods ,that patterns would never work and the market would be completely random as other poster suggested ,
numbers and targets would always be set by humans end of day
most people believe in the science of fib but
regardless end of day its a useful tool in simple measurement ,to judge retrace or reversal ,
thats the only way I can use fib tool because thats all I understand or need ,your find most will at some point use it ,it would work just because of that
keeping it simple I would use fib tool to measure candles against one another ,to define them ,
such as piercing line must close above 50% of RB of previous ,but then 61.80 ,you can start adding weight to probability of whats happening ,
I could do the math but then why when I got this handy tool
If I did that to a D1 single candle guess thats the same as your H4 fib trader he's looking at the same thing ,for confluence
so on and so forth
numbers and targets would always be set by humans end of day
most people believe in the science of fib but
regardless end of day its a useful tool in simple measurement ,to judge retrace or reversal ,
thats the only way I can use fib tool because thats all I understand or need ,your find most will at some point use it ,it would work just because of that
keeping it simple I would use fib tool to measure candles against one another ,to define them ,
such as piercing line must close above 50% of RB of previous ,but then 61.80 ,you can start adding weight to probability of whats happening ,
I could do the math but then why when I got this handy tool
If I did that to a D1 single candle guess thats the same as your H4 fib trader he's looking at the same thing ,for confluence
so on and so forth
Disliked{quote} hahaha nice reply, and now you know all about indicators as they simply calculate the past and big players hunt traders all the time using what indicators preach always remember to trick the tricky you need to be wiser then the tricky ... always keep in mind and ask your self what big players will do now ... if you watch charts closely you will see always the market surprise traders ... yes so true the market reward those ones who think out of the box during setting up there trades. also trading is all about prediction, this is why astrology...Ignored
#doyourownanalysisordietryin