Fibonacci levels for intraday trading

Turveyd said:
too many use different Fib numbers
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There are not "different Fib numbers" for a given range of high/low.

Fibs are not a "crutch", but rather a tool.... a much more valuable tool than most realize.

I don't mean to hurt your feelings, but you apparently are skeptical of the worth of Fibs. That only means that you don't understand them well enough for your criticism and skepticism to be legit.
 
I have been charting for a while and on 80 - 90% of the charts that I used Fib on, price action and volume has confirmed those levels at some point in the future as very active supply and demand levels either thru breakout, reversal or bottoming... just saying.
 
Scataphagos said:
There are not "different Fib numbers" for a given range of high/low.

Fibs are not a "crutch", but rather a tool.... a much more valuable tool than most realize.

I don't mean to hurt your feelings, but you apparently are skeptical of the worth of Fibs. That only means that you don't understand them well enough for your criticism and skepticism to be legit.
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No researched 10+ years ago, going to have to disagree on this 1, and I've seen a lot of people trading and believing in Fib's and losing money ( most people lose so yeah! )
 
Turveyd said:
No researched 10+ years ago, going to have to disagree on this 1, and I've seen a lot of people trading and believing in Fib's and losing money ( most people lose so yeah! )
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Were those the same people who try to drive a nail with a screw driver?
 
Scataphagos said:
Were those the same people who try to drive a nail with a screw driver?
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I can never find my hammer and screw drivers work just fine.

If you make money from, as a crutch or real and you happy, then that's all the counts.

I'd take a Crutch if it got me profitable consistently.
 
https://adamhgrimes.com/fibonacci-fibs/
If you start the process with any two numbers you will find the ratio between two consecutive numbers settles down to the Golden Ratio very quickly.
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For example,
Code: 
perl -e '
use warnings;
use strict;
my $v1 = 28; my $v2 = -103;
for (my $i = 1; $i <= 47; ++$i)
{
    my $vn = $v1 + $v2;
    print "$i ${\($vn/$v2)}\n";
    $v1 = $v2; $v2 = $vn;
}
' | tail

The results are
38 1.6180339887499
39 1.61803398874989
40 1.61803398874989
41 1.61803398874989
42 1.61803398874989
43 1.61803398874989
44 1.61803398874989
45 1.61803398874989
46 1.61803398874989
47 1.61803398874989

The example code starts with base numbers of 28 and -103. It then adds them to get the next number in the sequence and outputs the iteration number and the ratio between the next and previous number in a loop. This quickly converges to the Golden Ratio.

Does this mean the Golden Ratio or a variation of it special for trading?
 
Hello everyone,

Fibo levels are like everything (round numbers, trendlines etc...) : a lot of traders are looking at them, so they are areas where there should be enough movement to make a profit. But the more experience I gained in the past and the more accurate I found Fibo levels.

For my levels, I just take the last leg and draw the Fibo levels in the direction of the current intraday trend.
 
Yesterday USDCAD and GBPUSD fibo levels were pretty good, the reversal was quite powerful.
Let's see today's Fibonacci levels.

EURUSD - 27/01/2021

Current possible intraday trend : DOWN

With that in mind, here are the levels where I'm intending to take BUY orders :

N1: 1.2153
N2: 1.2142
N3: 1.2128

In green arrows on the graphic (I will try to post better graphic when I figure out a solution) :

eurusd27012021.png
 
GBPUSD - 27/01/2021

Current possible intraday trend : DOWN

With that in mind, here are the levels where I'm intending to take BUY orders :

N1: 1.3725
N2: 1.3708
N3: 1.3682

In green arrows on the graphic :

gbpusd27012021.png

*************

USDJPY - 27/01/2021

Current possible intraday trend : UP

With that in mind, here are the levels where I'm intending to take SELL orders :

N1: 103.79
N2: 103.90
N3: 104.03

In red arrows on the graphic :

usdjpy27012021.png

************
USDCAD - 27/01/2021

Current possible intraday trend : UP

With that in mind, here are the levels where I'm intending to take SELL orders :

N1: 1.2735
N2: 1.2761
N3: 1.2791

In red arrows on the graphic :

usdcad27012021.png

*************
USDCHF - 27/01/2021

Current possible intraday trend : UP

With that in mind, here are the levels where I'm intending to take SELL orders :

N1: 0.8873
N2: 0.8882
N3: 0.8895

In red arrows on the graphic :

usdchf27012021.png
 
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