I’ve never seen a fib trader explain how fibs will be used beforehand. I have seen plenty of scammers posting after the fact charts, though (of course they only post charts when it happened to work and they never post or acknowledge the losing trades).
I’ve seen tons of after the fact charts posted, and even I will admit that sometimes price reverses EXACTLY at one of the fib levels (of course, sometimes price also reverses EXACTLY at random, non-fib levels).
But I have never seen a fib trader say “ok, price is going to reverse at 38% retracement here” or “we’re going to hold onto this counter trend position until the 62% retracement because that is our target profit” ahead of time.
That is what makes this method different. Every single trade is mapped out exactly before hand. Enter here. Add more here. Add more here. And then it’s usually either stop loss here, or take profits here.
I am saying that it is impossible to know what price will do ahead of time. Therefore, if price reverses at or in between any of the fib levels, I will make money.
That’s the only way to do it.
Prove me wrong. Show how fibs have predictive power and I will buy your system.