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What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies

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Fibonacci Indicator? Is it a big Joke?

  • #101
  • Oct 18, 2015 4:52am Oct 18, 2015 4:52am
Quoting albchr
{quote} Hi ruma29 It's not an indicator. Simple lines drawn manually that represent levels of interest to me based on Fibs.
Really? those short horizontal lines( trendlines)? if so then you are good.
  • #102
  • Oct 18, 2015 4:53am Oct 18, 2015 4:53am
Quoting albchr
{quote} Hi Hat Well, I don't think I said it's "the answer for everything" (perhaps I could have worded better? ) Only a mathematical explanation of the universal construct. While it is true we are still infants in the area of understanding "all" physics, reality is actually quite a bit clearer to me. I'm a simple guy with no formal education but there are certain mathematical "bases" that cannot be argued with. Added to perhaps as we learn more, but the base remains a constant. Through life and countless examples, I believe the Fib...
Having re-read your post I slightly misinterpreted it, I do agree with what you've suggested I am just not the most clear and concise speaker/writer.
I might be wrong.
  • #103
  • Oct 18, 2015 4:54am Oct 18, 2015 4:54am
Quoting ruma29
{quote} Really? those short horizontal lines( trendlines)? if so then you are good.
Oh ... the little guys? That's just the Daily Open. Don't have to be very good (lucky for me ... lol) to mark them.
Ghost Rider - WWTBMD?
  • #104
  • Oct 18, 2015 5:04am Oct 18, 2015 5:04am
Quoting ruma29
{quote} Really? those short horizontal lines( trendlines)? if so then you are good.
This is a good practice, price often revisits these levels, this also keeps the price chart clean for the next session.
It never gets easier, you just get better
  • #105
  • Oct 18, 2015 5:08am Oct 18, 2015 5:08am
Quoting hat
{quote} Having re-read your post I slightly misinterpreted it, I do agree with what you've suggested I am just not the most clear and concise speaker/writer.
I understand Hat. I often do the same thing and I'm not always clear in the way I say things when trying to be ... clear. ... lol
Ghost Rider - WWTBMD?
  • #106
  • Oct 18, 2015 5:30am Oct 18, 2015 5:30am
Quoting albchr
{quote} I understand Hat. I often do the same thing and I'm not always clear in the way I say things when trying to be ... clear. ... lol
Thanks for the exchange, I hope you have a profitable week ahead
I might be wrong.
  • #107
  • Oct 18, 2015 5:52am Oct 18, 2015 5:52am
Fibonacci sequence has nothing to do with market price prediction. The screenshots of the charts showing a retracement of price on a level of Fibo are all due to (near to) random nature of the market.
Trading is the hardest way to make easy money...
  • #108
  • Oct 18, 2015 6:04am Oct 18, 2015 6:04am
the answer ,all you need to know
is in the first line of the description ,the main thing is if you use any tool that you fully understand it ,


Fibonacci retracement is a very popular tool among technical traders




http://www.investopedia.com/ask/answ...etracement.asp
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #109
  • Oct 18, 2015 6:08am Oct 18, 2015 6:08am
I couldn't disagree more personally. On both accounts. Me and a small group of friends here use Fibs to predict entries and potential targets on a daily basis. Depending on the TF used, almost always within a few pips and very often to the pip. The only thing random about the market is the plethora of individual views of it.
Ghost Rider - WWTBMD?
  • #110
  • Oct 18, 2015 6:10am Oct 18, 2015 6:10am
Quoting Bones
the answer ,all you need to know is in the first line of the description ,the main thing is if you use any tool that you fully understand it , Fibonacci retracement is a very popular tool among technical traders http://www.investopedia.com/ask/answ...etracement.asp
Hey buddy ... I saw your reply to me on the cable thread. Nice read on GU Tony.
Ghost Rider - WWTBMD?
  • #111
  • Oct 18, 2015 6:11am Oct 18, 2015 6:11am
Hi Chris pro real time can do that for you


Quoting albchr
{quote} Oh ... the little guys? That's just the Daily Open. Don't have to be very good (lucky for me ... lol) to mark them.
Attached Image (click to enlarge)
Click to Enlarge Name: USD open (DFB).png Size: 15 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112
  • Oct 18, 2015 6:13am Oct 18, 2015 6:13am
trading should be just like this -

"React not Predict"

"Just follow the current waves, don't try to invent or predict anything"

- From my big brothers
It is the dust where you came from & it is the dust where you shall return
  • #113
  • Oct 18, 2015 6:14am Oct 18, 2015 6:14am
Quoting Bones
Hi Chris pro real time can do that for you {quote} {image}
Yeah, not available to me but I could have both Ctrader and MT4 "do it for me" if I wanted. In fact I think I have an MT4 indie for daily open from Davit.

EDIT: I've used this one for mt4
Attached File(s)
File Type: ex4 daily_open_line.ex4   8 KB | 257 downloads
File Type: mq4 daily_open_line.mq4   2 KB | 303 downloads
Ghost Rider - WWTBMD?
  • #114
  • Oct 18, 2015 6:27am Oct 18, 2015 6:27am
Quoting Bones
the answer ,all you need to know is in the first line of the description ,the main thing is if you use any tool that you fully understand it , Fibonacci retracement is a very popular tool among technical traders http://www.investopedia.com/ask/answ...etracement.asp
How many technical traders really do know how to use this tool. Probably not many.

Popularity among traders of one tool over another is not the prime reason why you should use that tool.

Predictability is the word most used by novices, Probability is the word used by the pros.

Fibs is like marmite, you either love it or hate it.
It never gets easier, you just get better
  • #115
  • Oct 18, 2015 6:43am Oct 18, 2015 6:43am
Quoting MathTrader7
Fibonacci sequence has nothing to do with market price prediction. The screenshots of the charts showing a retracement of price on a level of Fibo are all due to (near to) random nature of the market.
Funny how this conversation still going...
Chris,CNTrader,Myself,Scott,MrPiP and many others make consistent $$ trading Fib levels+PA
I guess its just random
Look below
almost 200% return in 3 months
You can't tell me all my trades are happy accidents!

Crowd behavior has not changed nor will they because we are still human.
Nelson Elliot
"In the early 1930s, Elliott began his systematic study of seventy-five years of stock market data, including index charts with increments ranging from yearly to half-hourly. In August 1938, he detailed the results of his studies by publishing his third book (written in collaboration with Charles J. Collins), entitled The Wave Principle. Elliott stated that, while stock market prices may appear random and unpredictable, they actually follow predictable, natural laws and can be measured and forecast using Fibonacci numbers."
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 13 KB
In trading, you have to be defensive and aggressive at the same time
  • #116
  • Oct 18, 2015 6:45am Oct 18, 2015 6:45am
Oh right yea ,I couldn't be drawing something like that lol

Quoting albchr
{quote} Yeah, not available to me but I could have both Ctrader and MT4 "do it for me" if I wanted. In fact I think I have an MT4 indie for daily open from Davit. EDIT: I've used this one for mt4 {file} {file}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #117
  • Oct 18, 2015 6:52am Oct 18, 2015 6:52am
Well this is an old thread that has gained some legs again.

Fibs, hmmmm... I don't know...., draw a line on the high and another on the low of a wave and then another at the 50% mark of the 2 lines. Doesn't seem to be so mystical. Anyone truly profiting from trading with fibs on their charts, would be profitable without them. I can guarantee their knowledge of price behavior in general gained through the years alone is why they are profitable. C'mon guys, you just like the way it makes your charts look cool and high tech.

New traders, please don't waste your time. Sorry guys but chart clutter in my opinion.

Fibs are a very popular tool to a large percent of losing technical traders for the most part.
SPC * Swollen PocketZ Crew!
  • #118
  • Oct 18, 2015 7:03am Oct 18, 2015 7:03am
Quoting JoeNY
C'mon guys, you just like the way it makes your charts look cool and high tech.
LOL ... yeah, that's it Joe. ... how ya been brother? Long time man.
Ghost Rider - WWTBMD?
  • #119
  • Oct 18, 2015 7:06am Oct 18, 2015 7:06am
Quoting Davit
{quote} Funny how this conversation still going... Chris,CNTrader,Myself,Scott,MrPiP and many others make consistent $$ trading Fib levels+PA I guess its just random Look below almost 200% return in 3 months You can't tell me all my trades are happy accidents! Crowd behavior has not changed nor will they because we are still human. Nelson Elliot "In the early 1930s, Elliott began his systematic study of seventy-five years of stock market data, including index charts with increments ranging from yearly to half-hourly. In August 1938, he detailed...
Happy Accidents? Reminds me of Bob Ross and the joy of painting. ... Nice curve you have there buddy. Why is it we're always peddling uphill? ...
Ghost Rider - WWTBMD?
  • #120
  • Oct 18, 2015 7:08am Oct 18, 2015 7:08am
I have too many examples how PA is very keen on fibs
From current GU chart
Notice price hit 61R stalled indecisive several times. I also exited my shorts
How many touches you see? All random? I guess my chart looks cool and fancy...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM30.png Size: 48 KB
In trading, you have to be defensive and aggressive at the same time
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