Fib gurus will post after the fact charts. In one of them, price retraces to 38% and they say “look! Price retraced to 38% and we bought there!!!” In another one, price retraced to 50% and they will say “look, price retraced to 50% and we bought there!”
My whole point is that ahead of time, they had NO IDEA where it was going to go. On the second chart, they didn’t know that it was going to go past 38% down to 50%. And on the first chart, they had no idea it was going to reverse at 38% and not go down to 50%.
I don’t know if it is going to reverse at 38%, or 50%, or 62%… or 27.5%, or 36.349287%, or 95.11111%, or anywhere else.
I do average down starting at 38% down to 68%.