How The Pro's Trade Using Fibonacci Retracements/Extension Technical Analysis | Forex
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http://www.stock-market-strategy.com Stock Market Strategy has put together a video to explain how professional traders use Fibonacci Retracements/Extension for entering high odds trades and for profit taking. Fibonacci is explained and pointed out on charts so you can see how it can be used and implemented into a trading plan to become a profitable trader faster. Fibonacci Retracements is one of the most used tools for entering trades in the stock market. Understand the formula and how it is calculated to really start believing in this stock market indicator for better implementation. We hope you enjoy the video. Direct link to Fibonacci Retracements/Extension Page: http://www.stock-market-strategy.com/fibonacci/
Comments
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Thank you Phillip , it was valuable to me
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Interesting comments below. That being said, if anyone is looking for the actual link that is being talked about in the video, here it is:
http://www.stock-market-strategy.com/?video=fibonacci -
this is completely rubbish. How can you post this shit online?
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Real Pros don't use any of this stuff, not even charts...all the technical analysis junk is for retail traders that don't make money in trading.
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Can't argue with that.The more tech.stops are lined up at the same time,the harder it gets for the market to pull a surprise move on you,unless at the multi signal stop happens at a job number or CPI data release.Thankfully,they only happen,once a month.
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it works if everybody believes it works, then you can predict where money moves and bet accordingly.
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I only watched this once as a neophyte in the stock arena, but how is this anything more than numerology? I must be missing something. I guess if every single trader based their moves on this kind of indication it would be more useful, but psychologically that is absurd. I don't know, I must be missing something as this just seems ridiculous, heh.
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nice one. thanks
Now I'm practicing with fibonacci on 1D and CSR on 4H, later will add fibonacci extension on 1D -
1337
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bull shit....fibonacci does not work....plain charting is the best way to make money
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thanks for technic
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Yes Fibonacci is the main tool a trader should master, I've studied it a long time, it works so well if not perfectly if used properly because the universe is built around it, if that makes sense
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That first pull back that didnt reach the 38%, if you had the 23% line on then I guarantee it would of lined up with it when it pulled back, a 23% retracement is a ultimate uptrend, how come you dont use the 23%? and also the 76% is extremely useful after you predict the top of a trend you can go off 50% and tell a future low by dragging it down to the original 50% of the previous trend
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Really good video ! :) thank
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excellent! i never understood the extension targets. Your extension from triangle makes sense. I am v. impressed. Specially recently i'm growing to view Fibonacci retrace/ext to be very powerful tool N may even in coming days call it THE main tool a trader should master. Would you agree? or do u have feel other ALT. tools think are better. Ofcourse the default understanding is NO tool tops the money mgmt/position sizing. your insight please.
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Normally you just take the low of the move and the high of the move. However sometimes you might adjust the low or high if the these are created on the basis of a spike in price. If price haven't really traded at the price more than a split second then you might want to take the close of that bar.
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How do you determine where to set the 100% and 0% marks?
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Thanks nice information......
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Very good advice your father gave you.....
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If you are talking about approximately 1.10 mins in then it is simply to explain how the retracement works. If it was live trading then I would of course always use the recent price action.