>> As for the 44.7 fib, I think that is a miss. However, the observation about the 44.7% retrace pattern is very good work. Thanks for the feedback. Let's not call it a "44.7% fib" then, but a "5% frontrun of a 50% retracement level". Maybe this is ...

Where is the logic behind applying Fibonacci to trading?

>> 44.7% fib... really? Well, yes, I was initially surprised as well, but I found that for some instruments, these 44.7% levels show a reaction in price more often than 38.2% or 76.4%. So I started to look for it... But you don't have to, everybody ...

Where is the logic behind applying Fibonacci to trading?

IMO, Fibs can be used quite effectively to find symmetrical moves in price, and potential target zones for the most profitable exits. Cableguy posted some nice examples. Here is another example from last week, ES in 2h timeframe. image You can see ...

Where is the logic behind applying Fibonacci to trading?

Well, I can't tell you why other traders use Fibonacci levels, but I can give you a personal answer. I am using Fibonacci levels as part of my trading systems, mostly for exits and stop placement. Why? Because I have observed that these levels are ...

Where is the logic behind applying Fibonacci to trading?