Fibs are dumb and so are the doublespeaking gurus who teach them. There is no logic behind suggesting that they get applied to the finacial markets.
That being said, this thread demonstrates the only way to trade with fibonacci lines in a straight forward manner. There are no BS excuses, no double speak, no after-the-fact BS explanations of why price reversed at one of the lines one time and another one another time. Before you even enter the trade, everything is exactly mapped out: your entries, your stop loss, and your profit target. Surely as a confused trader you can see why that is infinitely more useful then the slippery double speak BS spewed forth by other “gurus.” Have you ever tried to read a post by some of the gurus explaining their methods? It’s a bunch of doublespeak, confusion, and overly-complicated crap that doesn’t even make sense, and if you quesiton them on it, they get ultra-defensive (which is textbook scam artist behavior).
This site is the opposite of that. There’s no doublespeak. There’s no ambiguity. There’s no BS. There’s no riddles. There’s no after-the-fact excuses.
To be honest, this method would work even if you used other levels instead of the fibonacci levels, the only difference is I wanted to give fib traders some hope so for this thread I chose to use the levels they love so much.
Put another way, it has nothing to do with the Fibonacci levels.