Hi, is fibonacci retracement is somewhat related to time frame? What I’m trying to say is, let say the news is on 8.30 AM US time, and then the price will go up to the nearest fibo line (let say above, buy position). And then another news is on 10.30 AM, so the fibo will go to another nearest line. Is that correct?
Fib points is not really related to time. They are not considered an indicator, more like a measurement tool. They are not linked to price in any way. They are no different than a horizontal line in this aspect.
fibonacci is related to absolutely nothing. you could just aswell spit on your computer screen and go short/long where the spill hitted your screen.
[QUOTE=“TURBONero;767998”]fibonacci is related to absolutely nothing. you could just aswell spit on your computer screen and go short/long where the spill hitted your screen.[/QUOTE] Hahahaha omg that was really funny)))
TurboNero, tell us how you really feel:)
There is something called Fibonacci time zones, Never used it, just watch a YouTube video on the subject, seems like using it would just add another layer of confusion to your trading. If you really want to explore this indicator do a YouTube search, there are a few videos on the subject, just have a cup of coffee handy, if they are all like the one I just watch you will need it
Good luck