Fibonacci does work?

Fibos sucks!!!
It doesn’t work for me.
I star using it with RSI and it was like a distracting figure in my chart.

I use Fibonacci Retracements for Stock Option plays.
What I have found is if you take the first support and resistance level after the market opens (20-30 min or so) plotting a fibo with extentions gives me ideal points of when I place my orders.
I sit back and watch and wait for the retracement near the 132.8 and 161.8 levels to place my orders.
I take these levels as a roadmap of where I should be entering and when I should be getting out. Not a "System", just another tool.
Works for me...

http://i35.tinypic.com/21kw7d4.jpg

If it works for you then use it. I've always felt they were a self fulfilling prophecy and with enough people using them price will move in relationship to the levels.

Personally I could do without the mess on my chart

No ONE system works!.

I can show you charts when fibs are simply ignored.
You have to combine other useful systems and fundumentals.

Pick few out of hundereds of systems that sometimes work and some times do not. Add fundi, and luck!

If a Gov of china for instance wants to unload trillion dollar of us dollar when you are long because your little world of fib tells you, it does not matter what your fib looks like. your account will be eaten in one bite.

Happy pippin

Ahh, yeah Apollo .. We read you clear.

Listen: We are going to get you as close as we can & let you figure out the rest when you get there.

We can get you in The Cone, but you have to find the bullseye.

{S#IT; I Thought I Signed up on a 'Winning System' ! ! !}

...No Free Lunch...

Hold on.... Let me check my charts.....

Hourly bounce? No....

4 Hour Bounce? No....

Daily Bounce? Weekly? Monthly? No....

Decade are Century charts are bouncing in opposite direction.... at least I one of them is right, so fibs do work....

Maarten, this topic was also discussed recently here.

David

as to me how my experience says Fibo works if you completely understand this metod.and to it help you you have to practise a lot with it!