Hey,
how do you work with fibonacci indicators?
In my opinion Fibonacci is like a guessing game.
how do you work with fibonacci indicators?
In my opinion Fibonacci is like a guessing game.
What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies
guessing game? 9 replies
Fibonacci 0 replies
fibonacci 4 replies
DislikedI think you'll find you've drawn the fib levels upside down!!
You should be drawing from the high down to the low for a downtrend retracement, your 100 (100%) and 0 (0%) need to be the other way round! Think about what those fib levels represent.
Ignored
DislikedSorry but nop,i was playing the 50% pullback
so the fib was drawn from where the pullback started.
Like i said before,its knowing the start of the pullback
thats all important.
This way you get the level to sell 50% and a target 161.%Ignored
DislikedI think you'll find you've drawn the fib levels upside down!!
You should be drawing from the high down to the low for a downtrend retracement, your 100 (100%) and 0 (0%) need to be the other way round! Think about what all those fib levels represent.
Same with your second chart, draw low to high for going long on a retracement.
Ignored
Disliked
Also there is no difference which side you draw them,
the 50% will be the same,just get a chart and draw it to see
but drawing them your way doesn't give you a target.Ignored
Disliked161.8% is the target isn't it? Can you see 161.8% on my chart?
Of course 50% will be in the same place, it's a matter of drawing them correctly though, and having your chart make sense, important when you're trying to advise others!
Hey have it your way, it's not my cred at stake!Ignored
Disliked
Yes i can now,there was no chart there when i replied
to you,thanks.Ignored
DislikedYeah I edited and added the chart, I though I'd better give a visual!
You've probably got used to the way you draw them and it makes sense to you, but seeing as the OP seemed confused already I think that may have tipped him over the edge!
If you're interested in fibs then drop me a PM, I've got a couple of videos you may find give you a new perspective.Ignored
Disliked
,the thing is i only watch
3 levels,the 50% pullback,the break out level 100%
on mine but really 0% and then the target level.Ignored