Fibonacci works due to self fufilling prophecy or becuz 618 is embeded in humans?

[MACD]

Perhaps someone with more advanced knowledge of various fibonacci's tools and their application could talk through a typical "take the trade!" moment.

I don't understand why one tool would be more applicable in different contexts nor how to properly use any of the tools.

I have made that offer...

 

[Sprout]

Not trying to be antagonistic or combative with the point that you make. In my opinion, the purpose of following threads on message boards is not to find "TRUTHS" that agree with your worldview (Gestalt) or some belief system based on feeling good for the day; or that one is searching for reinforcement of your need for feeling good.
Elliot wave is not the topic here and yes it is somewhat related to the Fibs but no need to use it with the fibs as it would provide only confusing signals and some redundancy (collinear signals). All traders that are consistently profitable have found the Less is More. So it is with the quest for Truth -- one needs to find the "Path" and stick to it -- Dilettantes do not succeed in trading and not in Life. "Their Truth no Mine", as you stated above are Subjective not really Scientific proof or Objective Truth. Trading Can Be.

Thanks for a careful reading. BTW the book I offered was not by Robert Miner, It was by Larry Pesavento who in some way taught Robert Miner his craft. Additionally, I offered to share screens and no good readers seeking Trading Truths have held me to the offer.

I understand the point that you are making. We all have our blindspots I suppose.

We are on the same page on the value of scientific inquiry and it's attempt to define an "objective" truth.

We just have a different approach. Both have "feelings" defined, experienced and contextualized in very different ways.

As for your offer of screen time, it is appreciated. It's just not a format that I personally work with. The format has limited value through time - whereas posts here can be an ongoing learning reference. I'm sure others that are more inclined will take you up on it, if that's the only way to present the material.

 

[Sprout]

Thanks for the suggestions on another platform (Trading View). Again I am not seeking information on Elliot wave, which BTW, I have used and fully understand and have thrown out years ago as non-productive. This share stuff on forums like trading view is again the blind leading the blind. (Again please do not take these last posts as being antagonistic. Just trying to proceed with the reality of trading profitably.)

No offense taken, nor do I perceive your communication as antagonistic. I have a beginner's mind here with this particular material. I don't understand Elliott waves nor their relation to Fib's. It seems like sometimes they are lumped together while others maintain their distinctions.

Unless there is a sequence that the levels go through, then I find it difficult to make the logical leap that the levels have any anticipative capacity other than defining possible zones of swing high and swing low from any point in Price Action.

If there is truth to the idea that Fib's are fractal. Then we should see the same behavior on all fractal containers. In other words, the method should work when applied correctly from the smallest timeframes to the largest if the method views timescales as fractals.

The question that comes to mind, is how do Fib's define turning points and when those turning points occur?

Does it include volume?

 

[vanzandt]

No offense taken, nor do I perceive your communication as antagonistic. I have a beginner's mind here with this particular material. I don't understand Elliott waves nor their relation to Fib's. It seems like sometimes they are lumped together while others maintain their distinctions.

Unless there is a sequence that the levels go through, then I find it difficult to make the logical leap that the levels have any anticipative capacity other than defining possible zones of swing high and swing low from any point in Price Action.

If there is truth to the idea that Fib's are fractal. Then we should see the same behavior on all fractal containers. In other words, the method should work when applied correctly from the smallest timeframes to the largest if the method views timescales as fractals.

The question that comes to mind, is how do Fib's define turning points and when those turning points occur?

Does it include volume?

Hey Sprout...
Did Yum China (YUMC) just do a perfect Fib pattern in the last three days?

 

[MACD]

Sprout my "inquisitive, beginner" friend, thanks for your understanding and acceptance of my posts. Again, if one carefully reads responses the fractal nature and application of the fibs does provide excellent information on all timeframes. (You previously asked about 5min). And the answer was Yes, it does provide tradeable information. In fact, I trade on 3 different timeframes and use the fibs to show a correlation of Support and Resistance levels. Here I will share a word that I coined years ago that will start to illustrate the Key to profitable trading. The Word is B A S S A R. That is Buy at Support Sell at Resistance. Master how to do that and you will be on the first rung of becoming a Consistently Profitable Trader. Sprout you are obviously quite a good and active "Student" of the process of learning to trade. You are also quite learned on philosophical as well as scientific approaches. So with only the minimal focus on the task of learning to trade profitably -- you are very close to becoming a real trader. The only barrier now is to direct full attention to what is the Reality of Trading, which is duplicable and consistent based on rules. This is the problem with moving towards a real understanding of the markets and that requires Focus, not hoping from charting indicators, systems, and tools that are like "Shiny Bobbles" attracting the unsuspecting wannabes that Professionals and Brokers live on. I need losing traders so that I can make money by taking positions that are the opposite those of the unknowing wannabes. So, please do not impune my motives in trying to in some way payback for the struggle that I had to endure for years to finally understand what is necessary and what should be confined to the Garbage as in "Garbage in Garbage out".

 

[speedo]

 

[MACD]

Does it include volume?

Re the use of "Volume" as an indicator of continued direction as in "the volume is supporting the move" or as in "Volume is the precursor of direction." I do use volume but it is not really an important tool, particularly when recognizing that it can be used to influence wannabes by making sizeable trades just to get traders that are "weak hands" to cave in.

 

[peter2h]

Hey Sprout...
Did Yum China (YUMC) just do a perfect Fib pattern in the last three days?

Vanzandt, interesting question. I looked at the chart and saw that the Fibonacci certainly did apply, though not necessarily in the last three days. I drew extensions from high/low points over the past couple of weeks and found that they were quite relevant Here's the chart:

 

[vanzandt]

Vanzandt, interesting question. I looked at the chart and saw that the Fibonacci certainly did apply, though not necessarily in the last three days. I drew extensions from high/low points over the past couple of weeks and found that they were quite relevant Here's the chart:

Hey thats a great analysis. I've been trying to study up on this stuff. Thank you.

 

[peter2h]

Hey thats a great analysis. I've been trying to study up on this stuff. Thank you.

you're very welcome.