Fibonacci levels for intraday trading

[maxinger]

Hello everyone,

Here are some of the Fibonacci levels I'm watching for today ;

If you want the complete list, feel free to visit https://www.francetrading.net/thread...page-5#post-67

EURUSD

Current intraday trend likely : DOWN

N1: 1.1890
N2: 1.1881
N3: 1.1868

See following chart :

*********
GBPUSD

Current intraday trend likely : DOWN

N1: 1.3680
N2: 1.3659
N3: 1.3630

See following chart :

that looks strange ...

 

[SunTrader]

I am not sure what time are you looking at, but you are right when you say the prices at the open of some markets are acting as resistance later in the day ; it is a key point on my strategy.

The Frankfort 8:00 am local time which, currently, is 2:00am ET - my time zone.

 

[pinabetal]

Years ago when I traded commodities, it was well known to "buy the 50% retracement".

Which is not a Fib level.....

 

[Scataphagos]

Which is not a Fib level.....

Back when I recall the notion of "buy the 50% retracement", but I don't recall it being called the, "50% Fibonacci retracemtent".

However, every Fib tool I've seen has the 50% retracement line included. What's your point? Is it that buying a 50% retracement is a bad play or is it that 50% is not a Fibonacci level and should NOT be referred to as such?

 

[pinabetal]

Back when I recall the notion of "buy the 50% retracement", but I don't recall it being called the, "50% Fibonacci retracemtent".

However, every Fib tool I've seen has the 50% retracement line included. What's your point? Is it that buying a 50% retracement is a bad play or is it that 50% is not a Fibonacci level and should NOT be referred to as such?

https://www.integers.co/questions-answers/is-50-a-fibonacci-number.html

 

[Scataphagos]

https://www.integers.co/questions-answers/is-50-a-fibonacci-number.html

True as that may be, arguing minutiae like my wife will score you few points.

 

[maxinger]

Which is not a Fib level.....

it is very important not to treat trading books like the bible.
Most professional writers, no matter how famous they are, failed to spend thousands of hours staring at the charts.
They and the publishers are very good at earning tons of money selling books.

 

[maxinger]

Hello everyone,

Here are some of the Fibonacci levels I'm watching for today ;

If you want the complete list, feel free to visit https://www.francetrading.net/thread...page-5#post-67

EURUSD

Current intraday trend likely : DOWN

N1: 1.1890
N2: 1.1881
N3: 1.1868

See following chart :

*********
GBPUSD

Current intraday trend likely : DOWN

N1: 1.3680
N2: 1.3659
N3: 1.3630

See following chart :

you fibo-ed wrongly.

 

[pinabetal]

Fibs fib alot but if you get enough on a chart you are bound to hit one correctly. However, a 50% retracement is a logical psychological level. Not a fib level.

 

[pinabetal]

you fibo-ed wrongly.

Naw...maybe he didn’t draw enough fibs?