Fibonacci levels: myth or reality? - page 6
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The question is, if instead of 23.6, 38.2, 50 and 61.8 for example 20, 40, 60 and 80 or some other equidistant level were used, would it be less successful? By analogy, in Europe they use kilometres to mark up roads and in America they use miles. But nevertheless they are orientated on both continents with equal success.
Didn't have time to write it myself.
I'll join
All the phybos are just mysteriously hinting at exclusive recipes
well mql4com already wrote it all
Fibo is great.
i use it only for calculating probable targets
not a prediction of movement but targets
it is convenient to set takei and stops according to probable advances
really like level 161
in my mts trading on the breakdown described the breakdown to the 161 level
COUNTRY TRADING ON FIBO FOR A MORNING FLY BROWN
>> really love level 161
Better love 162, it has statistical and mathematical justification. It has nothing to do with Fibo though.
Better love 162, it has statistical and mathematical justification. True it has nothing to do with Fibo.
:-) well yes 162 can be loved as well as 160
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here is an example of the calculation ... How it will go in the morning no one knows and in the evening according to the calculation a take
on the last move on the 14th to the 161 level
It's just a pattern, at least the movement is estimated.
1 order was covered by hands and by teibo 161 is marked by a yellow sun
that's why i'm talking about the triggering of this pattern...
A little more estimated movement
movement 161 is very stable repeating
the hardest thing is to find the points on which to hang the fib! - but that comes with time.
again i'm talking about a likely destination not a guaranteed one
:-) well yes 162 can be loved as well as 160
Nah, nah. 162 is a figure from another thread, but it has a rationale, and it's only by chance that Fibo 161 looks like it. On the other hand, accuracy is a very relative concept, especially when applied to trading. Therefore, let it be 161.
No, no. 162 is a number from the other side but it has a validity. 161 Fibo is just randomly similar to it. On the other hand, accuracy is a very relative notion, especially when applied to trading. Therefore, let it be 161.
ok, let it be.
here's the USDCAD
We are waiting!
Takei 4 orders are placed by fibo, exit by stop if price goes over 161 fibo
a few minutes later
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I'll take 0.7 lot and spread it over 4 orders with fibo coming out
the heaviest lot is already covered 0.3 in work 0.2 0.1 0.1
it's not a martin, it's just the 0.7 lot is spread out over the entries and targets
and a little more for the naysayers.
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the pound also has 161 ! and it works too :-)
Well you could say there is a pattern - and it generally works on almost all pairs!
And why 76 and other numbers don't work out?
Well I gave specific screenshots where you can see that the 161 pattern is working
Why no one can provide screenshots of the 76 level I do not know, probably because it does not work
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The next targets are usually 261, 361, 423.
but if there is no reversal at any of the targets
the extremes usually hit these levels
i don't know why it happens... :-)
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They say if you knew what you were getting, you'd live in Sochi.
( don't play cards with the Sochi people! they know the buy-in )
i don't know the buy - or i would live in sochi
at least these are the points where changes are possible
and it might make sense to use it.