Fibonacci levels: myth or reality? - page 10
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Yura, try to set not 138 and 162 levels in your semi-automatic EA, but 135 and 155 for example, and you'll see that the result may even get better.
Simply, any levels in the range of 135-165 will not work badly as shown in the statistics histogram. It shows that most often there is a movement to levels between 35 and 65 percents or 135-160 percents. Nobody's saying that Fibonacci levels don't work. It's just that your favorite levels fall within the most probable percentage ranges and price does not always bounce from these levels as you've already noticed.
By the way, let's see where the ends of the impulses will reach on the Canadian and the Aussie. Probably, they will bounce around the 162 and 138 levels. Let's see
Fibs have one marvelous advantage.
Everybody knows about them and use them as a guide.
Not only that, but many second order indicators strangely coincide with Fibo.
Yes on the Aussie somewhere at 118 bounced for some reason. I guess it's that small percentage of non-coincidence. :) Maybe on the next impulse it will reach the cherished levels
:-) ...
no one is saying that it's going pips to pips
I'm talking about high probability of reaching levels
Fibs have one great advantage.
Everyone knows about them and is guided by them.
Moreover, many second order indicators strangely coincide with Fibo.
What are these second-order indicators? Well, it's a fact that Fibo is well promoted.
I read in Demark's book how he searched for a man somewhere in the state, who was considered a phybologist and when he found him, he was amazed. This man worked uninterrupted number of days as in Fibo and then rested as the next number in Fibo. The number of his children is also according to Fibo and so on.)
In general, give free rein to a person's imagination and he will believe in something as selflessly as in a religion, especially if that belief is sometimes supported by life events (although not always :)).
:-) ...
No one is claiming that it's going pip to pip
I am talking more about high probability of reaching the levels
Pick levels and call them YZ levels and it will work and the world will believe that forex is moving with a high probability to the 130, 159 called YZ levels.
We could even patent it :) Let them first prove that the price approaches the Fibonacci levels more often than the JZ levels.
But who cares that they simply fall within the cherished range of high probabilities 130 - 160 according to the laws of nature and the psychology of the crowd.
Pick levels and call them YZ levels and it will work and the world will believe that forex moves with a high probability to the levels of 130, 159 called YZ levels.
We could even patent it :) Let them prove at first that the price approaches the Fibonacci levels more frequently than the JZ levels.
But who cares, they just fall into the cherished range of high probability 130 - 160 according to the laws of nature and the psychology of the crowd.
the level around 161 is almost always reached
after the breakdown of any range
I do not know ... whether it is the laws of the golden ratio or the psychology of the crowd
just noticed this pattern a long time ago - and it works almost identically on different TFs
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about patenting - that's cool... I didn't invent the fibo
I'm talking about Fibo levels and not others, everything was invented before us
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trying to get into the medium term
I only use them for exits and entrances.
i think you should only use the fibo to calculate entry - exit points
e.g. every spurt out of the rangeIt almost always bounces into the 161st bullet and makes a bounce.
this has been seen for a long time and i have screenshots to show it
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you may assert that the fibo doesn't work but you have to confirm it
with examples of statistics for example
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here is an example of stats from the beginning of march - not much, but these stats show how this system works
with the calculation of exit entry points by Fibo
Trading on the breakdown
as i understand it, the authors of this article have nothing but bare objections.
Are you running an advisor or by hand?
Do you have an EA working or using your hands?
>> The details are better to discuss in mail!
( entry and calculation of targets by EA - I can do it in the evening and sometimes I may not do it by hand - it depends on the situation
- but it's not as a rule)
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Entrances today
With the pound, it's a real beauty.
i remember there was an argument = swing is best - but if the swing goes in a zigzag
I like the occasional deep entry at the top and entry at the bottom
give me time to think about what to take and when to take it.
Either way both entries are at breakeven
and in any case there's already a profit from two entries on a swing point
and in that situation there's no difference... with the same lots I can cover two entries at any time
and get a swing point profit...
by the way you can wait for a good medium term
in the case of a breakthrough of any entry and then the profit will be even higher and also protected by stops at entry points
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THE ADVISOR USES FIBO AS A BASIS FOR GOAL CALCULATION!
the wonderful properties of Fibo - I learned it on the masterforex-v
i have taken much more profit than i lost
i think it's thanks to my training at masterforex-v...
This Expert Advisor is written after reading a book (known to many people) and practicing my studies