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Updated April 28, 2020
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June 19th, 2012, 11:27 AM
Las Vegas, NV
Legendary Market Wizard
Experience: Advanced
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Do Fibs really forecast levels for trade management? Can't argue with Fib extensions in this screenshot .
Cheers!
Can you help answer these questions from other members on NexusFi?
Best Threads (Most Thanked) in the last 7 days on NexusFi
June 19th, 2012, 11:34 AM
Manta, Ecuador
Site Administrator Developer Swing Trader
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aligator
Do Fibs really forecast levels for trade management? Can't argue with Fib extensions in this
screenshot .
Cheers!
Mike
June 19th, 2012, 11:41 AM
Aurora, Il USA
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Fib is a fighting word for Big Mike....I confess to using them in some circumstances as kind of a reference but I keep it quiet around BM...he gets all wound up...
June 19th, 2012, 11:57 AM
Columbus, OH
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even simple fib retracements can be helpful. even though if reality continues, we should get passed this level easily.
but in all fairness, fibs are as random as trend lines
June 19th, 2012, 12:01 PM
Manta, Ecuador
Site Administrator Developer Swing Trader
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kbit
Fib is a fighting word for Big Mike....I confess to using them in some circumstances as kind of a reference but I keep it quiet around BM...he gets all wound up...
I'm not saying they can't be helpful. Just saying that you need to recognize when you are being fooled into thinking they are predictive.
Mike
June 19th, 2012, 12:17 PM
Las Vegas, NV
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Big Mike
I'm not saying they can't be helpful. Just saying that you need to recognize when you are being fooled into thinking they are predictive.
Mike
Was careful to use "forecast" not "predict." But, seems like fibs levels act like metro stops for the crowd psychology to get on or off.
For this TF case, looks like our train is stopping at every watering station.
June 19th, 2012, 01:10 PM
Las Vegas, NV
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On board again with a window seat on Fib train. T1 in the bag.
June 19th, 2012, 01:16 PM
Aurora, Il USA
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I have around 785.5 as being a spot...
I can see 787 and 789.5 as well....gets kind of messy around there
June 19th, 2012, 01:28 PM
Las Vegas, NV
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Ticket punched at BE+6, getting close to destination.
June 19th, 2012, 02:32 PM
Aurora, Il USA
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kind of late but watch 782.....
785...below go down....above go up as I'm seeing it
Edit: the specific number is 785.2
Last Updated on April 28, 2020