Fibonacci and targets

You don't need any indicators .... Just a Fibonacci tool. No disrespect intended to Pipsy.

I do not see problem in demo accounts, what matters to me is to see useful ideas.

I got this forum, I thought it was very good.

https://www.mql5.com/en/forum/177776

Fibonacci retracement is fundamentally based on a single number, which is Golden Ratio 1.618 or 0.618. <---
(1/1.618 = 0.618 .just from different side of perspective)
This single magic mysterious number does all the trick and covers the entire Fibonacci numbers or Levels.
0.618x0.618 =0.382
0.382x0.618 =0.236
0.236x0.618= 0.146
So, here is the full sequence of Fib numbers(levels) from 0.1 to 1.0
0.146 1- 0.854
0.236 1- 0.764
0.382 1- 0.618
0.5 mid point
0.618 1- 0.382
0.764 1- 0.236
0.854 1- 0.146
(1.236 = 1+ 0.236 = 0.382+ 0.854 = 0.618x 2 = 2- 0.764)
(1.618 = 1+ 0.618 = 0.764+ 0.854 = 1/ 0.618 = 2- 0.382)
0.5 is not a fib number to be precise, but it is as important as fib.
At the same time, there is a Gap between 0.382 and 0.618, PLUS
(0.382 + 0.618)/2
(0.236 + 0.764)/2
(0.146 + 0.954)/2
= 1 /2
= 0.5
which means that the middle point of
0.382 and 0.618
0.236 and 0.764
0.146 and 0.854
is 0.5, and obviously it is also the middle point of 0 and 1.
These numbers cover fair range between 0 to 1.0.
It's as simple as that, just +or -. based on 0,618=Golden Ratio
in some Harmonic Trading book, they mention 0.786 or 0.886 using Root calculation etc.
I think these are rather Artificial manipulation of Golden Ratio, and I have no idea why they insist such numbers instead of employing the simple Fibonacci sequence.
You see 0.786 is close to 0.764 and 0.886 is close to 0.854.
This difference doesn't mean much, so why don't you use simpler ones?
The real simplicity from the Golden ratio appears on the sequence list I shown first.
So, I totally ignored these artificial numbers according to their book or site, and instead, employ simple Fib numbers.
Actually, For Gartley Pattern.(in the chart above)
If
XAB =0.618
ABC =0.618
BCD = 1.618,
XAD = 0.854 (= 0.236 + 0.618) !!
not 0.886.
Harmonic patterns behave like this, if you set up a couple of Fib ratio for each reteracement, Automatically, another Fib retracement ratio show up. That is why this pattern is called as Harmonic.
You can do math or using MT4 Fib line tool.
Again, as long as you stick to pure Fib numbers, since Golden Ratio would repeat itself, whatever you manipulates among Fib numbers, the result is Always on Fib numbers.
That is the beauty.
However, once you include the other biased fib numbers such as 0.886, it will be broken

Living and learning.
My English is bad.
I learned a new word.
Crap ... lol

Now I use those levels, I left the artificial levels.

As a level of 0.146 and 0.764 is so respected.
According to Murrey Math the equivalent of 0.146 (1/8) would be the weakest, along with 0.854.
But in some cases the level 1/8 causes a strong fall.

Fibonacci fractal.
This is called perfection.

TP1 @1189.07 , TP2 will post mebbe L8R - - - SL man.

Hello Pipsy7,

how to get your indicator?

free dwl =

http://forexwinners.ru/forex/fibonac...zone-strategy/

They form many lines, I think it was confusing.
There is the fibo in the monthly graph in yellow.
The fibo projected in the OCO with 3 levels highlighted.
And two fibos enter the monthly levels to show the sub-fibo, ie a fractal.
July to August 2018

Fig1- This monthly measure was interesting, the other two not so much.
The other two monthly measures I did not post here.
Fig2- It was exactly the target of the news, the consolidation measure of the last day is also a good reference in 0.236.
Fig3-- I was watching the M15 pivo, but I did not believe that the lower top would give continuity to the movement.
And I took a stop.
If I had measured both ways I would have good targets.
But I would not believe it would all be so fast.

I thought it was the Golden Zone power mining program, where I posted the post about it.
This other one I find interesting that shows the situation of various graphic times.
It is a kind of zig-zag with fibonacci.
The controversy is the zigzag configuration, but it is a matter of adjustment, it is interesting to join with the projection of where can go with done in the figure.
And also the PA, as an example, limit the purchase target
on the topmost top.

https://www.forexfactory.com/showthread.php?t=596821

Demo accounts are the best thing available as long as they are used in the correct manner to build one's knowledge and experience as u said .
There is NO other business in the world that can offer what Demo offers in Forex ,,, running ur business in virtual term without outlaying money on the line .
Cheers

Sorobanista ,,, If i may suggest something from my own humble experience ,,,,
I spend hundreds and hundreds of hours on using Fibs ,, and yes i can say i have mastered the use of fibs .
I have come to the conclusion that the market is NOT governed by Fib levels .
You have the solution already in ur previous posts here ,,,, the secret to turns is TARGETS .
Look at a naked chart and have a look where the market usually turns ,,, that should give u the full clue as to what really works time after time .
I guarantee u if u base everything on price ,, u will be amazed of the level of consistency u will achieve .
If u look at tops and bottoms ,, u will see sometimes turns happen ay 127 or 168 or 200 ect ect ,, and a good example is the last chart u put up above ,,, the bounces were not solid ,,, so there is NO consistency ,, hence making it hard to make decisions cause we dont know which level will be the top or the bottom ,, BUT ,,, PRICE TARGETS WILL .
the simpler u keep it the better ,, this business is very simple ,, although it is NOT easy .
Hope this helps and thank u for opportunity to comment here .
If there is anything i can help u firther with what i am talking about ,, i am more than happy to go deeper .
Cheers.
George

Cool, could give an example of analysis of some chart.
When do you say you base everything on the price.
This reminds me of that common analysis, of using as target for purchase the last top.
You mean you do not use fibo anymore?

The target he showed can be achieved as well.
Did not quite understand.
On the daily chart you saw the pivot, what did you do with it? Will it be the support?
Is TP2 the L8R or stoploss?

Good morning Sorobonista.
I have stopped using Fibs many months ago as i do not need them at all.
How accurately are my trades taken u wonder ??? i get over 95% accuracy.
I do NOT talk about my theories in public forums for obvious reasons .
No i am NOT a salesman ..
Read what i said before ,,, and start at NAKED charts ,, because one should build a full understanding of price action before anything else .
Do the work ,, study it swing by swing ,,, and u should be able to see action repeating every time .
The best time frame to see this more frequently is the 15 mnt chart
If that fails ,, then message me as i am more than happy to help .
Cheers,
George