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Fibo and how many bars

  • #1
  • First Post: Sep 19, 2009 2:47am Sep 19, 2009 2:47am
This is for those who trade using Fibo calculations successfully.

I know this could spark a pretty big discussion, but I'm willing to take that chance.

How many bars to you guys go back when you draw your Fibo lines?
-or-
Can't you just use the last Day's High and Low and take the direction from the open and close of that day?

Which works better?
  • #2
  • Sep 19, 2009 3:11am Sep 19, 2009 3:11am
Joe DiNapoli works best.
  • #3
  • Sep 19, 2009 4:08am Sep 19, 2009 4:08am
Quoting nondisclosure00

How many bars to you guys go back when you draw your Fibo lines?
-or-
Can't you just use the last Day's High and Low and take the direction from the open and close of that day?

Which works better?

No set number of bars, just use the obvious swings high and low and then find correlated levels across different time frames for more probable trade set-ups.

Fibonacci can be very discretionary, it's an art more than a science
  • #4
  • Sep 19, 2009 4:57pm Sep 19, 2009 4:57pm
Kind of what I thought.

Quoting pipmutt
No set number of bars, just use the obvious swings high and low and then find correlated levels across different time frames for more probable trade set-ups.

Fibonacci can be very discretionary, it's an art more than a science
  • #5
  • Sep 19, 2009 4:57pm Sep 19, 2009 4:57pm
Who is Joe DiNapoli? Got a link?

Quoting Dopey
Joe DiNapoli works best.
  • #6
  • Last Post: Sep 19, 2009 7:43pm Sep 19, 2009 7:43pm
Use fib numbers as lookback lengths as well.
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