1. Most Discussed
  2. Gainers & Losers

Fibonacci Thread

  1. Wayward1

    4,634 Posts.
    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.


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

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.