DislikedFirstly Fib trading is aligned with support and resistance not trends.
Secondly the charts you have posted just confirm that when a certain level of retracement is reached (61.8 in this case) then it is highly probable that price will move to a projected Fib level above.
According to the charts, this has occured.
So what is your issue exactly ?
There are many Newbies that read this thread in an effort to improve their trading. Your comments are misleading and inaccurate which can lead to
confusion. Post something meaningful or don't post at...Ignored
Sure, I don't think there is any arguing that fibs are supposed to project possible support and resistance levels. But S/R and price trends are not mutually exclusive. They have everything to do with one another. Most of the fibs that I've seen fail are contrary to the overall trend.
The fibs I was calling into question were not traditional fibs. But since you're a man of probabilities what is the probability that a fib that retraces will reach some extension. What type of fib are you talking about? The fib that thom posted, which I also posted to make a point, are nonsensical. You don't need a fib to know that price pulls back as it trends, which is all you are saying.
I hope all the newbies coming to this thread read what I have to say very carefully. If they take me seriously, they won't waste all their time learning something that is mostly nonsense. Where am I misleading newbies? Away from the Fibonacci holy grail?
![](https://resources.faireconomy.media/images/emojis/64/1f923.png?v=15.1)
What have I said thats confusing? I'm asking questions that all of us have that have spent any time with fibs. As I've stated several times, fibs can be helpful at times, but there is no holy grail in them.