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Showing results for tags '[fibonacci]'.
Found 3 results
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Anyone willing to comment on these statements that I have hearing more and more often these days:? -You can make an argument that there is a fib trading level at every single bar on the chart. Take any chart, and draw any fib extensions or retracements, (pick a bar, any bar, pick a swing high/low , any swing high/low) and you will see some bar at any given fib level. Fibs will work after the move has been made. The fib trading method does not work during real time trading. On any given chart at any given time frame, there are a million fib levels...If you trade the fibs, you will over trade and chop your account up... Is there some truth behind this statement? I wish there wasn't, but the more I think about....
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$ES_F http://chart.ly/d2uc6bu Daily chart. Target = 1295.5 still valid. Resistance at 18.5 and 22.25 has held for last 2 days. Thx, dave
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Hi, I trade the ES off a 5 min. and am trying to get a feel for Fibonacci levels. Where is the most effective placement of this study with regard to the start of the day? Meaning 15:30 the day prior or midnight the actual day. For example, my chart software is automatically placing today's low at midnight. I would think it would be 15:30 yest. Thanks much.
