Now I am a believer in Fibo

I was not using Fibo, but more and more evidence of this self fulfilling prophecy is becoming obvious. For example today USD CAD: level 38.2 to the pip on 5m:

http://i.imgur.com/BWhSwC0.png

and original wave on h4:

http://i.imgur.com/AhrsDLw.png


Do you have some similar evidence to the pip, that large players are using Fibo?

Sort of - second pic below is from technical analysis done by a pro-trader of a trade that Soros took - forget how much he made on this one, but in the tens of millions anyway. I went to the exact date and pair and what did I see? I saw his first trade placed at exactly 50% of a retrace (with some confirmation). A second one was taken later to add to the position. Coincidence? Maybe but I doubt that coincidence has a lot to do with it. Yes I also trade 50% retracements as one of my setups.

Good luck.

Simplicity is the ultimate sophistication (Leonardo da Vinci)

EU next week highly probability to goin shout..pass the 61.8

Just to give a different view:
attached is a picture that explains how fibonacci can work in a little bit different way. I took the biggest candles ( here 1hour chart) and you can see how nice the fibo levels where touched. Note: I know its a bit hard to see so i underlayed the candle with a green rectangle!


same chart 4 hour last biggest candle:



another example




and so on and on

hope you enjoy or been inspired

just a little note: in my experience, fibonacci is usualy very accurate, if the fibonacci isnt pin point accurate, dont use it or play with it. As an example take a look at the last picture and all the spikes above the 50 level without touching any level accurate. That was the reason that i looked at the closing of all these candles and choose the 50 level as a important level. If you use fibo for swings, consider that they are looking different regarding the spike from broker to broker - here too, if the fibo isn´t 99,9% accurate, don´t use it.

furthermore a nice example like above

just for fun, here comes a special one

1 picture the reversal candle: i took every time the same fibo and moved it to the following candles just to show how harmonic forex can be


and here it is moving (every time the same distance)






the last two are special

every time the same distance /4 hour chart. just took the first fibo and moved it along the chart.

daily: same distance just moving the fibo






do you see the harmony?
last one: break 23 was the entry TP minimum 38er level depends of the reaction

i think you will like : http://www.forexfactory.com/showthread.php?t=590950

Well pattern analysis always based on fibo levels.

mh what´s up with the OP? Thread is dying?

What do you expect?

i didn´t start this thread, what did you expect?

I did not expect anything.

Very good , 1st copy and pasted , 2nd start thingking like fibbonachi ,1 weebit 2 weebiit 3webbit ,

fibbin is a ratio , nottin more nottin less , but among all mesuerement thjat been use metrix , inchs, jimmy yang yang . its all dont make a sence till fibbin ratio
in to play . so if using fib , yes one need to know basic pattern , basik wave basic candle , again yes once you can see how these ratio interact and respect by the data , hehehe you can cerry pick any trade any like , forexample doble bottom , tl cut and break at the camel hump enter the trade at price bouncing
38,50,61 entry there but do any know how fard it goes ? no it neddanother fib names , fib extention , so from fib retracement tl cut data break at the retracement and shoot to fin extention , so wheere is the extention > ( some time data stall at 100 , That will be the 1st ding ding ) the extention is at 161 . 261 etc . since any onw knowthese ration and extention so whats the big deal ? baby gigs place fib at 5 grade ... what a dispointment , if it is 5 grade .... every kids in the blocks know how to use it dont it ... ehehhe , even elliat wave use it or there is non existed wave ..... lolol .

lets find a synctific solution where , " I dont expect anything " and how these connecting dot can build up to become a trading startegy , base one vibo ratio .

@ the end all will conclude it is just a coincident , sneak oil buba , yang yang , dunnoif these will make the simple cut ....

so thekey word is , I dunno

Why do you think this works?

what kind of study have you done before you decided this is a real phenomenon? how did you reject the NULL hypothesis?

Fibonacci is nothing more than a pleasant human vision to the proportions of forms. On the market there are no clear criteria, especially for the price movement. while traders believe that it works.