Help needed for fabonacci

hi
newbie here. just studying forex from babypips. was wondering if someone could guide me with where can i get material about fibonacci and elliot waves, apart from babypips ofcourse. any recommended videos or course on the net. thanx in advance

Try a Google search. There will be plenty of hits. Fibonacci Analysis by Constance Brown is a good book to start with.

thanx valkryder for yr help.

What makes you want to learn about Fibonacci?

Interesting reading but not sure how it relates to Fibonacci ratios.

hi i guess i need to learn fibonacci to read the charts. correct me if i am wrong. i have just started learning about forex and fortunately found this site. At the moment i m quite far even from demo trading. just collecting information and trying to get as much knowledge as i can get. thanks

It is based on mathematic pattern like the Golden Ratio.
It works like support and resistance.

Fibonnaci works only on certain currency pairs. It is not a universal
strategy. Therefore, good luck with the Fib stuff.

I sometimes, but not always, add a fibo to a chart AFTER I have entered a trade. I do this when i want to scale out of a trade when it is getting profitable. I take partial profits as a level is hit, these trades are usually on 4H or D. TFs, shorter TFs I just monitor and I usually don’t have that much at stake. Hope that gives you an idea of how they can be used. d.

I use it with every chart and find it remarkably accurate. It is not a perfect predictor of support and resistance but since many people use it it does have a self fulfilling affect to it.

There are at least 3 really good fib threads here on babypips you can read thru…

http://forums.babypips.com/free-forex-trading-systems/30406-system-cant-lose.html
http://forums.babypips.com/show-me-money-swing-trading/8204-fib-retracement-trading.html
http://forums.babypips.com/forextown/21934-30-pips-day-keeps-your-money-bay.html

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