Does Fibonacci levels help you find out the bottoms?

Does fibonacci Retracement level hepls you to find out the bottoms?

  • Yes

    Votes: 21 60.0%

  • No

    Votes: 6 17.1%

  • Cant Say?

    Votes: 8 22.9%
  • Total voters
    35
R

renu daga

Well-Known Member
#21
#21
darsh,,,u mistook me,,i had already metioned,,,in daily basis nifty eod chart...
not on weekly/ monthly...!!!
on daily....fib counts the retracement..not teh bottoms out,,,,bottom out means,,,,,,the mkt hs ended or any scrip has ended in terms of trend in which it was trending,,,,that is down trend,,and now u can catch,,,since it has bottomed out were demand si inc/ and less supply....
where buying is much / and selling is less...
stcok test thoses levls agian / again...
WELL,,,THESE WERE MY VIEWS,,,NOTHING GOING CONTRA TO ANY BODY,,,,IF NAYONE FINDS FIB,,,SUITING HIS / HER TRADING PLATFORM...WELL GOOD...
renu
 
D

darsh_goswami

Guest
#22
#22
renu daga said:
darsh,,,u mistook me,,i had already metioned,,,in daily basis nifty eod chart...
not on weekly/ monthly...!!!
on daily....fib counts the retracement..not teh bottoms out,,,,bottom out means,,,,,,the mkt hs ended or any scrip has ended in terms of trend in which it was trending,,,,that is down trend,,and now u can catch,,,since it has bottomed out were demand si inc/ and less supply....
where buying is much / and selling is less...
stcok test thoses levls agian / again...
WELL,,,THESE WERE MY VIEWS,,,NOTHING GOING CONTRA TO ANY BODY,,,,IF NAYONE FINDS FIB,,,SUITING HIS / HER TRADING PLATFORM...WELL GOOD...
renu
Click to expand...
Dear Renu ,..
Just attaching a chart ,.. Not sure i m correct or not ,... but u correct me if i m wrong.
hope it can give a better idea to u how fibo works ,...
There r still some rules to use fibo.. u also need higher / lower pivot to enter ur trades ( for reference).
Ajax might throw some more lights on it ..
Regards,..
Darsh
 

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B

bjj9126

Active Member
#23
#23
Interesting Thread..!!

Fibonacci Levels can help to find The Pinpoint levels for reversal,

But important thing is, WHICH HIGH & LOW YOU CONSIDER FOR PLOTING THE FIBONNACI LEVELS,

Nature is always ready to help the Human,

& Fibonacci Nombers is........

THE NATURE...!!!!!

:cool:

Prakash
 
O

oxusmorouz

Well-Known Member
#26
#26
D

darsh_goswami

Guest
#27
#27
Dear Oxy ,..
Never Tried Phi ( ITs not in metastock , yeah its there in GannAlyst ). So can not comment. U better try.
Regards,..
Darsh
 
U

uasish

Guest
#28
#28
Darsh,

Phi is a Mathametical Number only,it can be put in any Software / Calculator.

Asish
 
A

AW10

Well-Known Member
#30
#30
In my view, Fib levels, on its own cannot indicate reversal levels. But they do work specially in liquid stocks/markets. I will prefer to use them for confirmation of trading signals that are generated by other price patterns / indicators. In my experience, most common fib level is 50% followed by 38 and 62% levels.

Happy Trading,
Anup
 
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