T2W Bot

Staff member
1,454 55
The eagerly watched for retest (of the prior lows) finally came to fruition on Wednesday of last week. Although, the ER2 (Russell 2000) didn’t quite make it down far enough to touch the recent nadir. This was not the case for the S&P and the Dow. These two benchmarks actually exceeded their prior low points before the Bears finally decided that – enough was enough – and began covering or buying back their short positions. In addition, the market sell-off had gone far enough that the Bulls found a perceived "value area" in which they could put new money to work. This chain of events created a massive order imbalance that precipitated the violent reaction that is the rebound. Much like a rubber band that is stretched to its limit, the reverting is swift.
Was this an oversold bounce before the next shoe is to drop? Or is the correction over, thus setting the stage for a challenge of the February highs? These questions are foremost on the minds of both traders as well as investors.
My...
Continue reading...
 
Last edited by a moderator:

fibonelli

Experienced member
1,338 288
then again i am not suprised that low level traders believe in this nonsense
I'm not sure if you either i) provoking a reaction or ii) don't understand how to use Fibonacci.

If it's the latter, I'd respectfully suggest that you do further research into the discovery of the fibonacci sequence and of the many top traders who use fibonacci when trading.
 

SCHOLAR

Member
60 2
Magic Numbers

magic numbers = fibonacci

it is all pie in the sky, another useless indicator it means nothing
 

Ted69

Junior member
17 1
Hi, then it's easy for every of you to describe what fibonacci personally helps your trades?
Please give some examples.
Ted
 

jacinto

Senior member
2,374 101
mmm, guess it is like having a hammer. dont think everything is a nail, because the hammer wont work all the time.

j
 

nkruger

Established member
855 76
magic numbers = fibonacci

it is all pie in the sky, another useless indicator it means nothing
Can I presume you are not an exponent of Technical Analysis ? What do you use to give yourself clues as to the possible next move when trading ?
 

new_trader

Legendary member
6,232 1,285
Can I presume you are not an exponent of Technical Analysis ? What do you use to give yourself clues as to the possible next move when trading ?

Can you explain why 50% is used in a "Fibonacci" level? That makes no sense!
 
Last edited:

Moxy9

Junior member
22 2
Hi, the only issue I have with this article is that it seems people were looking for a more detailed explanation of Fibonacci. There are a ton of websites and books that explain the Fib Levels, so why repeat here.

This article was a good. It points to how many people saw the market at the time... Indecision. Fibonacci can not show where markets will turn etc... but do offer possible areas for retracements and projections. A bit of study, and you will find that, as Gabe says in the article title, Fibonacci Tells Few Lies.

Nice one Gabe.
 

rcanfiel

Junior member
13 0
Fib levels don't work. Studies have well demonstrated they are no better than random. Article another useless garbage respository.
 

Similar threads


AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock