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Here is the only post I could find that tries to explain why fibs are applicable to the financial markets. If you read it in its entirety, however, you will see that there is no explanation other than "it only makes sense that since nature follows specific laws the same laws should be...

I was referring to your 78.6% fib line. Wow, I had some numbers dyslexia on that one :eek: My bad on that one. So you bought at the 61.8% fib line. I bought there, and 50, and 38.2%, so my cost basis was lower than yours and I got more profit when price retraced back up to 100%...

That link just explains fib numbers and has one bullet point about how some people say it indicates resistance points in the market but it's disputed. It doesn't explain how or why or where the correlation from [unrelated mathmatical property] to [financial market application] comes from...

Here's your chart with my system. Notice my fib lines are in the same place as yours so I didn't change anything or anything. A huge winner. Three buys Depending on position sizing, my winner would have been around twice as much (or more) as yours due to my lower cost basis. Your one buy...

um, that was a lot of posts in a row, elit5314. It looks like your found a stock that was trading within a horizontal range and then put fib lines over top of it which isn't what I'm talking about in this thread. You also had some reversals at random fib lines, such as at 78.6% in this...

No idea. But I'm not a person to claim to be able to predict price. All I'm saying is if price reverses at Fib levels, the method I have laid out here will be wildly profitable. It can reverse at any of them. Speaking of that chart you uploaded, I have shown some instances of using...

You left out the fact about HOW the fib percentages were arrived at in the first place. THAT is the part that is completely unrelated to trading. Did you even read my posts in this thread? I laid out SPECIFIC RULES for trading them that are based entirely on the fact that IF price...

I just know you use fibs so I figured you might find the information in this thread beneficial . I really don't care one way or the other. You will find, however, that this thread is more complete than any of the other fib information you may have seen. I'm sarcastic because fib "theory"...

The guy is an idiot. It should be "risen" not "rose." "Price should have risen." not "price should have rose." Oh wait, it says he's a high school drop out.

Have I obtained FIB GURU status yet? I GUARANTEE you this thread is more complete than any of the fib bullshit you will find anywhere else.

And AGAIN right after that one. This one has you fully loaded as well. HOLY SHIT you guys FIBS are MAGIC!!!!

And another trade almost immediately after the last one.

Here's an example where price retraced down to the 61.8% level and so you would've had the biggest position size possible and then exited for a WIN!!! (typo in the pic: "sinec" should say "since")

Two posts in a row? Really? Well, fibs are being discussed in this thread. I'm not sure how that wasn't clear before. Trading rules are being given and examples are being posted. I'm hoping the fib gurus will join this thread but I doubt they will.

Are you talking about fibs in general? It's hocus pocus where people think the market is supposed to retrace at 38%, 50%, and 62% because those are magic numbers that resonate with universal frequency or some mumbo jumbo like that. Are you talking about my particular strategy? Well, you...

Sometimes it doesn't work at all. (how can this be??? fibs are magic!!!!!!!!!!!!!)

This picture illustrates why 38.2, 50, and 60whatever are not necessarily the optimal places for adding to your position i fyou're creating an optimal system. Unless, however, you believe that fibs are magic in which case they are the only values you need!

Sometimes price never retraces enough (38.2% ISN'T SO MAGICAL ANYMORE, IS IT!!!)

The trade previous to the one posted above. SHORTZ CAN MAKE MONIES WITH THIS METHOD!!

btw, here's the most recent profitable trade from this method.