Does Fibonacci levels help you find out the bottoms?

uasish · #11 2nd April 2008, 08:18 PM

Yes Fib is even followed by mother Nature.

amarnath · #12 2nd April 2008, 08:28 PM

Quote:

Originally Posted by uasish

Yes Fib is even followed by mother Nature.

But trading is not result of any natural activity

its just mass preception and mass psycology @ work to make fibs a little to work some times

Trading is all about open interest , volume , Buyers and Sellers

no more no less in true sense

uasish · #13 2nd April 2008, 08:36 PM

amarnath,

Both of us are trading for Long & we know NOTHING is absolute,hence let us not start a debate here,unfortunately being a dumb myself many times a fail to understand very simple things simply.

Asish

robin_malihan · #14 2nd April 2008, 08:45 PM

Quote:

Originally Posted by darsh_goswami

Agree with u Ajax ,..
I'm not so good with moving avgs and indicators ,.. what i use personally for my trade is various fibbo techniques ,..
The ElWave & Wolf are based on it upto some extent. Not always it should follow the fibo ratios,..!!
About finding tops n bottoms ,.. A fibbo retrace level can give u the maximum chance of reversal ,.. it doesnt mean u r always right but as much i have felt chances are around 70%. So it could be called a good chance.
Will post various fibbo charts as soon as i will see them in my system. And will try to post a new thread also over it.
Regards,..
Darsh

Sir would wait for your chart as i dont know much about fib retracement and have not used them anytime yet.

i was just kidding dont want to hurt anyone plz dont misunderstand me .

Robin

robin_malihan · #15 2nd April 2008, 08:47 PM

Quote:

Originally Posted by Ajax

Yes Yes Yes...............

PS: One tip ... One great way to pick stocks are those who have fallen to 11% of their peak values... (Think of Highly liquid stocks)

11% hmm , will look for these also

darsh_goswami · #16 2nd April 2008, 09:33 PM

Quote:

Originally Posted by robin_malihan

Sir would wait for your chart as i dont know much about fib retracement and have not used them anytime yet.

i was just kidding dont want to hurt anyone plz dont misunderstand me .

Robin

Dear Robin ,..

I m not sure how much u know about the fibonacci retracement levels and price pattern coz of that ,... Hereby attaching a chart of Idea Cell. for ur studies,...

See how fibo levels did the job there ,.. and ya ,... before anyone asks that did i trade it? yes i traded and benifited too.

It is possibly AB=CD pattern ( which is an advance stock pattern ) which strictly follows Fibonacci retracements and resistance.

Entry point is D .
Target zones normally 50%, 61.8%, 78.6% to 100% ( or 127% n 161.8% if we r running with bull market).

This is all what i can say.. ( an Expert like u can comment better into it.)

N ya i really dont misunderstand anyone coz i dont understand only anything.
Regards,..
Darsh

robin_malihan · #17 2nd April 2008, 10:18 PM

Quote:

Originally Posted by darsh_goswami

Dear Robin ,..

I m not sure how much u know about the fibonacci retracement levels and price pattern coz of that ,... Hereby attaching a chart of Idea Cell. for ur studies,...

See how fibo levels did the job there ,.. and ya ,... before anyone asks that did i trade it? yes i traded and benifited too.

It is possibly AB=CD pattern ( which is an advance stock pattern ) which strictly follows Fibonacci retracements and resistance.

Entry point is D .
Target zones normally 50%, 61.8%, 78.6% to 100% ( or 127% n 161.8% if we r running with bull market).

This is all what i can say.. ( an Expert like u can comment better into it.)

N ya i really dont misunderstand anyone coz i dont understand only anything.
Regards,..
Darsh

i have material for AB=CD pattern , will study that for sure and ask u if got some doute.

i am a new bee not an expert

renu daga · #18 2nd April 2008, 11:20 PM

fib,,,,in actual terms is used to find retracement levels....in a trending / downtrending mkt...
if mkt is changing its trend from neg to pos,,or vice versa,,,fib is not the tool which will help us to find actually ,
rgt as,, what is happening,,,,in mkt now,,
from uptrend it has come almost to downtrend,,,,(if we take in daily trems),,,ineod nifty has comp all its retracemnet,,,and could not move up,, hence all levels failed..
and down was confirmed in daily ,,,,on many indiactors basis,,,,,
and now when it wsa almost bottoming out,,at 4450...(as i ahve posted in my thread),,,,and it has now taken,,,,good moves ,,,,500 points up...and then 200/300 down,,and then agian now moving up,,here fib does not play any role in finding teh bottom out,.,,,no way,,,
major the elliot waves count,,,..and candlesticks,,,do play vital role..........
secondly on either hand,,,gann angles have wider aspect and they play major role in big retarcements levels...
how many times the price hits a particular level/ open int / vol/ and divergences,,,,,are simple ,,and imp in finding the bottom outs,,,not fibanacci,,,,in this ,,,nifty moves since last 3 mopnths all fib levels have failed!!!!

fib can be practically use for getting tgts...and retracemnets.......
which i also noramlly use..(many also do,,)

renu

djsinha · #19 3rd April 2008, 12:20 AM

Posted the chart of REL. See how the stock faced stiff resistance from the 61.8% fib level after the fall of 22nd Jan, 08. Also after 12th Feb the price retraced upto the 61.8% level again and faced resistance there.

darsh_goswami · #20 3rd April 2008, 11:23 AM

Dear Renu ,..

Its not that fibonacci levels never fails but as far as i know , it hardly fails,..

Now if u thought nifty is not supporting fib levels ,.. then can u plz attach a chart to me and tell me where it failed and how ?? so that we can also see it .. as much as i know ,.. nifty behaved the way it should have behaved.

@ DJSINHA,..
yup ,.. ur right ,.. fibo retrace levels are normally upto 38.2% , 50%, 61.8%.

thanx for sharing ,..
Regards,..
Darsh

View Poll Results: Does fibonacci Retracement level hepls you to find out the bottoms?
Yes	9	52.94%
No	4	23.53%
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