Ryan,
thnx for your reply. I would slightly disagree that fibs is a lagging indicator. It's based on the historical data, yes, but what isn't? But not lagging. And their usefulness lies in the fact that the market is watching for these levels, so it's a psychological thing rather; but I have seen it work in planty of cases to use it as one of the factors for the decision making.
We're all entitled to our own views. Once again, thnx for the reply. Sorry for the off topic.
thnx for your reply. I would slightly disagree that fibs is a lagging indicator. It's based on the historical data, yes, but what isn't? But not lagging. And their usefulness lies in the fact that the market is watching for these levels, so it's a psychological thing rather; but I have seen it work in planty of cases to use it as one of the factors for the decision making.
We're all entitled to our own views. Once again, thnx for the reply. Sorry for the off topic.
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