They're the ones working for the banks afterall.
Why do indicators not work/work? Why is Forex not truly random? 129 replies
How to find out why the euro is strong or why the dollar is weak? 8 replies
Why do we trade?... no really, why? 51 replies
Why is Sentix Investor Confidence influentional on EURUSD! Why ??? 0 replies
Why oh Why .... 19 replies
Dislikedoh shit this thread what an eye opener!!! now STATS don't back up that psych levels work to the pip i can conclusively say the following:
MARKET DOES NOT I REPEAT DOES NOT HAVE ANY RESPECT FOR .00 OR .50 PRICE LEVELS!
THEY ARE MERELY AS RANDOM AS ANY OTHER NUMBER BECAUSE I SAID SO!!!!!
NOW I WILL ENDULGE IN PERSONAL ATTACKS TO BACK UP MY OPINION roflIgnored
DislikedI've recently really taken an interest in the Fibonacci retracement tool...but something's been bugging me, and that is the 61.8% ratio. What is it about this number that makes it the most significant of all the ratios? I've heard it be called the "golden ratio", but don't understand why.
Is there a reason? Or is it just something that has been firmly ingrained into the minds of traders, that the reasons don't matter anymore.
I've been trading the EUR/USD since the start of the down trend in December and watched it pretty much blow through...Ignored
DislikedI think your thread has been hijacked. Perhaps you should start a new thread on how traders use fibs, especially the .618. Traders can then post some charts on how to use fibs and what to look for in trading. Practical use vs. the current level of contribution you are receiving now on this thread. I am amazed that the arguing continues here; silly and sad. Good trading to you all.Ignored
DislikedThat was my take too, and hundreds of other forum posters takes aswell. Unfortunately it only makes sense on a superficial level.Ignored
Dislikedhi Ted,
Could you explain a bit more what you mean: Unfortunately it only makes sense on a superficial level.Ignored
DislikedHere is a simple way to use a retracement tool;
Current range is below previous range, therefore trend is down.
No magical order of nature hocus pocus.Ignored
Disliked"Balances"- 0.5 is not a fib' ratio.
(Maybe I'm misunderstanding your annotations)Ignored
DislikedMaybe you could put forward some logical arguments instead of leaning back and making smug proclamations like "silly and sad".Ignored
DislikedYeah I missed it.
But looking at it know there sure was a lot of resistance there.
Nothing to do with fibs you understand.Ignored