Look sometimes they work, sometimes they don't
If you are looking at Fib ratios, then it would make sense looking at other geometrical levels - such as the SQUARE, CUBE, GOLDEN RECTANGLES etc all of which can be derived from the mathematics of the Great Pyramid
By doing this you then have a lot of lines on your chart - but you'll never know which one is going to stop a retracement - sometimes you'll get an exact hit and sometimes it will slightly miss - I've spent 1000's of hours researching over the past 15 years!
The same applies with TIME levels too
There is absolutely no doubt the markets MOVE and WORK to GEOMETRICAL ratio's and if you do the basics with a profit to risk ratio of 3:1 then over time trading those levels should prove profitably
So "IF" the markets are BUILDING or WORKING out to some GEOMETRICAL form, how do you KNOW where you are in the structure? The answer is you simply do not
BUT................................................
Sometimes you can make some pretty outstanding calls
This is the SP500 Index up to 2022 - I was calling for a TOP (I don't publish my work so you'll have to accept the date of the charts and reasoning)
Prediction RED BOX for BOTH TIME & PRICE levels - YELLOW box on chart top left = prediction date I published the chart to a friend
The above was based on the following - details in/on the charts
The LOW PRICE turned into TIME
Backing up this theory we also had the DJIA PRICE LOW in 2009 converting into FIBONACCI TIME multiplications of the low price!
We also had alternative time cycle (far left of the pic) suggesting a top/high from STATIC time cycles
There was also Gann angles suggesting a top
720 is a geometrical number being 2 x 360 degrees of the circle - Gann often talked about 360 degrees and its multiples
Oh be in no doubt that those Gann Angle lines are actually PLANETARY lines - Gann disguised the true meaning of his angles (which is why you can't get his angles to work properly on your charts) - Remember we are an Insignificant part of the Universe, it ain't there for fun or no reason
Anyway - 1902% / 190.2% / 19.02% / 1.902% etc is the GEOMETRICAL RATIO of a GOLDEN RECTANGLE (which is why we sometimes get Fibonacci ratios seen)
2828% / 282.8% / 28.28% / 2.828% etc is the GEOMETRICAL RATIO of the SQUARE (which is why you often see 50% ratio levels)
I can understand if you get overwhelmed by all this - It has taken me years to understand it all and I am still learning!
Look at the SP500 2009 LOW PRICE of 666.79 points
WHY did it stop there?
Well from the 2007 high it fell 57.69% - prove it to yourself
57.7% is a ratio of the CUBE - it is also Tan30 which is the TANGENT of a circle @ 30 degrees
GEOMETRY GEOMETRY GEOMETRY
and if you are not mesmerised by the fact that in 1962 the SP500 KNEW to grow @ 6.666 pts per month, which would YEARS later transpire into a high of the market and the price of 666 pts would be hit by a geometrical angle off the 6.666pts per month of 1962 then nothing will
So to answer this question - that is why sometimes Fib levels show up and sometimes why they don't - it ALL depends upon what GEOMETRICAL STRUCTURE is being built by the market
