in a fibonacci downtrend, when the trend hits 100% fibo level, does it mean it will reverse and go up?
thanks!
Nope. It just means it hit the 100% level.
Well it’s no guarantee that hitting the 100% level means a reversal. Sometimes the trend is too strong that even Fibs break. Just my two cents!
actually, i went into a wrong trade this morning now very nervous cos’ i saw my pair trending around fibo 100% level and then it went up by 30 to 40 pips, yet, i am not closing cos’ the denominator is usd. looking at the a day chart, it’s going down so i am taking chances.
You are entitled to think anything you like.
But experience tells me that over time you will change your opinion of my answer.
[QUOTE=“krafty;547904”]i think you are wrong. Fibonacci Retracements - ChartSchool - StockCharts.com [/QUOTE]
If you already feel that you know the answer to your own satisfaction, why ask the question in the first place?
Because we are in BP, ST you are silly asking such a trivial question 
[QUOTE=“Jezzode;548088”] Because we are in BP, ST you are silly asking such a trivial question ;)[/QUOTE]
You’re quite right, of course. I don’t know what I was thinking.
Best to let him find out for himself. All I want to add is that trading is not an exact science and because an indicator hits a certain level does not automatically mean a reversal will take place, but as MT stated you can approach it anyway you like.