Fibonacci Fans!

More fun with Fibs. ES (S&P) rallies reversing at the Fib 61.2% level. And how about that trend line?

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schizo said:
Yeah, but you only knew that after the fact. Did you know it would reverse at 61.8% as it was happening? Probably not.

How many times you thought it would reverse at 38.2% only to see it reverse at 50%? Or you thought it would reverse at 50 but not until 61.8? You can't trade willy-nilly like this.
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How many times have you reversed short to long (or vice versa) only to find out you should have stayed with original direction?

Yet you find fault with fibs like they should be 100% accurate or else they don't "work".

I've said it before, where fibs are drawn from matters. Not just slap a fib retracement wherever and expects miracles.

This morning (ES) 61.8% retracement (trading with the trend, the trend :)) to the tick. Wait for an up close, then for the high of the up close bar being taken out. Trade management does the rest. ;)

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SunTrader said:
This morning (ES) 61.8% retracement (trading with the trend, the trend :)) to the tick. Wait for an up close, then for the high of the up close bar being taken out. Trade management does the rest. ;)
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Hey, where ya been, my permabear buddy? :)

But you're cherry picking. If you're that sure of it, show it to me in real time. None of this hindsight analysis is of any help.

BTW what's up with this red/black candles? You an anarchist? :sneaky:
 
schizo said:
Hey, where ya been, my permabear buddy? :)

But you're cherry picking. If you're that sure of it, show it to me in real time. None of this hindsight analysis is of any help.

BTW what's up with this red/black candles? You an anarchist? :sneaky:
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1 Went long aaaagain today twice.
2 I say what I mean, mean what I say. Done with ES 2023. Don't have the time or the patience to post screenshots in the heat of the action.
3 And yes of course I am. :p

:D
 
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