Fibonacci retracement tips from seasoned traders

[SchmaltzHerring]

@samewise

just don’t know when it’s best to use or if it should be used at all???

Thoughts?

Much wisdom here (among the customary nonsense!) -

Need help understanding fib retracement

I’m going through the babypips school. I’m currently reading and trying out fib retracement. While I do have the understanding that using trend lines, S/R, fibs etc is like trying to impose a subjective pattern to random events, I’d like to have some understanding of it in order to improve my understanding of reading price action. What I don’t understand with the teachings given in the babypips school is that it tells that other traders may place orders on certain fib levels, making it more like…