Fibs don't work

Follow on from my last post, i have looked at many many indicators when starting to trade but found for me at least that they were all lagging, i use Fibonacci pre agreed levels to give me entry levels to enter the trade (scale in) exit level and an agreed Fib level as a hard stop.
 
It didn't and wouldn't work because Fibonachi was very lazy.

He didn't spend thousands and thousands of hours analyzing charts.

But fibo book publisher is having the last laugh !!!!

Similarly there are lots of hopeless trading coaches in this modern days
 
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Max, your right regarding analysing charts part,but the fib levels i use are just levels (from the fibonacci sequence) levels to give me my strategy.as a counter trend trader i am just trading the ebbs and flow of the market. but my retracement levels are constant.
One time frame, one pair.
 
Another way fibs need to be used, as I have said previously properly, is understanding when they are applied to trend and corrective waves. Though this should be plainly obvious.

Today's eMini 5minute chart. Trend is down a to b (duh!) and strong so don't expect much of a retrace and that is what happened. Tag of 38.2% and resumption of down trend to 2nd correction @ 3710-3705

Meanwhile shocking b to c retrace of correction was completely ignored. "See I told ya they don't work". ;)
!Fibs ES.png
 
Was sleeping at the time (midnight to 2:00am ET) but another example of capturing a trend correctly with fib retracement tool. Not from the highest swing high but from where the breakdown actually started in earnest, down to lowest low:-
!ES Trendwave.png
 
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