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Fibonacci Thread

  1. Wayward1

    4,634 Posts.
    1
    Just reading through the thread and had a bit of a laugh. I've come up against this "witchcraft and herd" argument frequently.

    The witchcraft comment is easy, comes down to psychology, traders enter a specific stock at specific times and leave the market at specific times. In-between those ranges you have everyone else buying and selling all contributing to the psychology of all involved. The markets work in cycles because our brains and just about everything works in cycles. Fibonacci reflects our thoughts behind the cycles.

    As for the "herd" mentality meaning that fibonacci techniques work because everyone uses them that's extremely easy to dispute. Most of the Fib techniques I use very few people use yet they have an extremely high accuracy. How can that be if very few are using the techniques I use?

    The second question is at what point did the "everyone uses fibonacci" argument become relevant. I've done a lot of analysis work on charts pre 1990, 1980, 1970 etc etc through to early 1900s. There is absolutely no variation in the accuracy of Fibonacci methods at any point. So did the herd mentality argument apply pre 1900?

    Have to fly now but I'm happy to debate Fibonacci and TA with anyone prepared to put forward any valid arguments at another time.

    Regards
    Sean

    PS: to anyone knocking Fib, a tip, you give away your ignorance on Fibonacci when you can't even spell the mans name correctly.

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