Explain about Fibonacci... - page 8
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In other words, phibo supporters are capable of stopping the market. Do you believe it?
Why not?
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By the way... So, thinking out loud. Why is everyone looking for peaks at the fibo levels?
If they are used, wouldn't it be more correct to look for troughs?
Why not?
Because the consequence, I think. And the cause is at the base. That is, in the square.
And in hindsight you can see that square :)
Interested in situations like this
If it will be a correction, then imho there are two possibilities:
1) On a shallow TF the property of a corrective movement does not include a pullback to Fibo levels. I.e. the pullback may be random at any level, it just has such a comfortable instrument with such a breakdown (23, 50, 68). If the breakdown was different (20, 20, 20, 20, 20), it would not do anything (50/50).
2) Or there is something 'fundamental' about these levels. There is no way without statistics.
Because the consequence, I think.
The consequence of what?
And the reason is in the base.
The cause of what at the base of what?
And retrospectively this square is visible :)
2) Or there is something 'fundamental' about these levels. There is no way without statistics.
TheXpert:
What is the consequence of what?
The cause of what at the base of what?
Show me if you can see it.