FIBONACCI question ???

L

larrybf

I have found fibonacci levels to be useful when looking at daily charts but get mediocre results when applying them to intraday charts... for those of you using them successfully intraday levels.... what other factors should i add to the equation???? thanks
 
Fibs get "dirtier" as your time frame shortens, anything below 15 minutes is too unreliable for me. I don't do much intraday trading anymore, but it helped me to use fibs in combination with natural S/R and trendlines. If you get 2 or 3 of these items coming together then maybe you've got a good spot.

Also, maybe use a range for your fibs setup and then drop down a timeframe for execution based on S/R, tape, etc.
 
For intra-day, you can try applying your fib levels to tick charts (100, 300, 1000 ticks) and see where fib levels might come close together to signal where price might pause or make turns.
 
Look for clusters of Fib numbers and then play S & R against them. Price retracements, price projections and extensions.

Fibs are a self-fullfilling prophecy.
 
Go after the larger swings and not every little wiggle. I find them more useful for projection purposes rather than retracement.
 
Quote from proteus1:

For intra-day, you can try applying your fib levels to tick charts (100, 300, 1000 ticks) and see where fib levels might come close together to signal where price might pause or make turns.
More...

whethere you use 100, 300,1000ticks, significant high/lows
of that day are same pointwise? Can you explain what you
mean by where Fib levels that might come togather?

Because i don't count on Fib levels for intraday level, i am
not fimilier with your method? I appericiate if you can explain
further with an example
 
Quote from prox:

Go after the larger swings and not every little wiggle. I find them more useful for projection purposes rather than retracement.
More...

Agreed 100%. I look for significant high to low/ low to high
of the day ( i don't mean highs and lows of that day), and
exit at 25% levels along with other criteria matched
 
Quote from Nana Trader:

But how and what levels you apply as entry or exit?
More...

Look for other key S&R levels that correspond to a Fib number. For instance, an opening GAP, pivot number.

Not exactly sure what your asking, but look for retraces back to 50, 61.8 or 78.6%

I agree with PROX...I find price extensions more useful.
 
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