Quote from Agyar:
I purposely make any number I use in my charts a non-fibonacci number, just on principle.I think it is a bunch of hooey personally, but I know there are people that are successful with it so maybe it is just a bunch of hooey to me.
I do not use fib. But this is how I would use it.
Market goes up from point A to point B this is a 100% move.
Then it goes down from B to C by 50% This is where you buy because initial move is up.
stop loss at 70% or less initial target is double top or possible higher high.
Your risk reward is 2/5