Fibonacci or Support Resistance line

[Mandar Datye]

Hi All !

There are two ways to determine the likely support and resistance for the stock.They are drawing the support resistance lines manually on the chart or using fibonacci.I would like to ask you all,which one is better? Waiting for your reply.

Thanking you.

 

[biyasc]

Hi All !

There are two ways to determine the likely support and resistance for the stock.They are drawing the support resistance lines manually on the chart or using fibonacci.I would like to ask you all,which one is better? Waiting for your reply.

Thanking you.

in my view, there are many ways to determine the likely support and resistance for the stock. the question is which one is most perfect to me.

 

[Mandar Datye]

First of all,thank you for your reply.I do know that,I'll have to find out which one works best for me.But still there must be some people on this forum who are using one of this particular method.I want opinions based on their experience.

 

[rajputz]

For a swing trader or long term trader the fibonacci helps as a good support and resistance provider but if you are day trader then trendlines or going accordinng to trend is good