I learned to use halfway back and midpoints of swings, ranges, and such almost from the beginning as the guy who learned me how to do this stuff made them an important part of his trading plan.
I pretty much use S/R, PA, and the HWB and then found David Halsey's book Trading the Measured Move and that pretty much describes a trading system using 50% & 61.8% as pull back guides and the 23.65 AND 38.2% as profit targets. PA, S/R and fibs work very well together.
I've seen people scoff at the use of S/R and trendlines, yet I know they can be valuable parts of a trading plan.
A lot of people also scoff at indicators (MA's oscillators, etc.) and yet I've seen with my own eyes guys like
@speedo us them to turn a chart into an ATM machine.
We all get cocky from time to time and think out way is the best way (or, God forbid, the
only way).