Fibo are useful to analyse the left of the chart. the problem of where to take the high and low for a particular move is difficult. it’s only a trial and error method and if it moves in that range you say, it works. better to use some other filter along with fibo
nagaraja, you are right – there is a problem where to take the high and low for a particular move, but it gets easier with time and practice!
Fibonacci is a leading indicator, so it’s always good idea to use some confirmation from price action or other indicator.
Still, I believe that trading with Fibonacci number is much better and effective than with lagging indicators like moving averages and oscillators. Especially in today fast moving markets…
Fibonacci Swing Trader methodology offers an unparalleled combination of effectiveness, simplicity of application, and superior Reward/Risk potential to the Forex trader.
Fibo are useful to analyse the left of the chart. the problem of where to take the high and low for a particular move is difficult. it’s only a trial and error method and if it moves in that range you say, it works. better to use some other filter along with fibo
nagaraja, you are right – there is a problem where to take the high and low for a particular move, but it gets easier with time and practice!
Fibonacci is a leading indicator, so it’s always good idea to use some confirmation from price action or other indicator.
Still, I believe that trading with Fibonacci number is much better and effective than with lagging indicators like moving averages and oscillators. Especially in today fast moving markets…
Fibonacci Swing Trader methodology offers an unparalleled combination of effectiveness, simplicity of application, and superior Reward/Risk potential to the Forex trader.
Fibonacci Retracements and projections are a major part of how I trade. It helps me easily spot good setups.
Pretty cool staff. It’s close to my article content. So if anyone is interested, download Fibonacci Calculator for free on my blog.