There seems to be a renewed enthusiasm around Fib levels, retracements, projections and all the voodoo that comes with it.
Before I say one thing regarding all this, let me firstly say I'm not "dissing" on anybody else's understanding, methods, madnessess, systems whatever. I am also not trying to make out that I'm any better a trader than anyone here. I'm also not giving any advice, projections, predictions, lies or anything else, I probably won't answer any questions either. I'm not trying to sell you a system or service, this is a "free speech" forum, I'm merely adding to the thought pool (hopefully)
Right, disclaimer out of the way.
I really like reading the quality threads here on FF, I post few, but am always lurking on this forum... it rocks!
The "Fibonacci Gone WILD" and skunny's thread etc. are all great in trying to get people thingking more about the market, than just trying to follow indicators and lines on charts. Let's not forget James16 and the boys.
So, I thought I would get the juices flowing for you. I was going to post this in skunny's thread actually, but didn't wanna hijack, plus it's only generally about the same topic.
What can be said about Fibs...well, the less the better I think.
:
Self-fulfilling prophecies, maybe. Personally I don't care...if they get fulfilled and TP is hit.
What I can say is that it is not even so much about the fibs, or any other tool for that matter. It is not about speculators or hedgers. It is at the end of the day, down to the value of one currency, and how it is pitted against it's peers (competitors?).
I've been using fibs the same way for many years now. It's actually not that hard, if you don't try and figure out the mystics of fibonacci that is, but rather use them as "road-signs" combined what's happening around you, and price action of course. <-- CURRENCY VALUE
And finally, the chart to get those creative juices going. I've left some "important" information off the chart to add to the excitement:.
The only hint's are:
Red - Last Week
Yellow - Last Quarter (Sep'07)
Green - Mid Year (Jun'07)
DarkGray - Last year (Dec'06)
I am however going to neglect to tell you how I draw them, folks seem to like that
Before I say one thing regarding all this, let me firstly say I'm not "dissing" on anybody else's understanding, methods, madnessess, systems whatever. I am also not trying to make out that I'm any better a trader than anyone here. I'm also not giving any advice, projections, predictions, lies or anything else, I probably won't answer any questions either. I'm not trying to sell you a system or service, this is a "free speech" forum, I'm merely adding to the thought pool (hopefully)
Right, disclaimer out of the way.
I really like reading the quality threads here on FF, I post few, but am always lurking on this forum... it rocks!
The "Fibonacci Gone WILD" and skunny's thread etc. are all great in trying to get people thingking more about the market, than just trying to follow indicators and lines on charts. Let's not forget James16 and the boys.
So, I thought I would get the juices flowing for you. I was going to post this in skunny's thread actually, but didn't wanna hijack, plus it's only generally about the same topic.
What can be said about Fibs...well, the less the better I think.
:Self-fulfilling prophecies, maybe. Personally I don't care...if they get fulfilled and TP is hit.
What I can say is that it is not even so much about the fibs, or any other tool for that matter. It is not about speculators or hedgers. It is at the end of the day, down to the value of one currency, and how it is pitted against it's peers (competitors?).
I've been using fibs the same way for many years now. It's actually not that hard, if you don't try and figure out the mystics of fibonacci that is, but rather use them as "road-signs" combined what's happening around you, and price action of course. <-- CURRENCY VALUE
And finally, the chart to get those creative juices going. I've left some "important" information off the chart to add to the excitement
:.The only hint's are:
Red - Last Week
Yellow - Last Quarter (Sep'07)
Green - Mid Year (Jun'07)
DarkGray - Last year (Dec'06)
I am however going to neglect to tell you how I draw them, folks seem to like that
Carpe Divitiae
