Fibonnaci Trading

Fibonnaci Trading, Does this strategy work

Best to give the the section on Fibonacci in the online course a good read. If interested in learning more about it you should check out Elliott Wave Theory.

There are arguments for and against it. Even if you think it’s a load of bollocks enough people use it to make it self fulfilling and worth noting. I think (not entirely sure) that some pairs are more sensitive to it than others.

Price action will not always play on specific fib levels. So it’s always good to see it more as a guideline than hard and fast rule. As with indicators, it’s always best if you can combine it with price action, support/resistance levels or indicators you’re confident in, rather than use them standalone. As with anything else, also always best to back test it to determine if it works for you or not.

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Yes, of course, Fibonacci has a very good signal. Many professional traders work with this strategy. It is very important in the case of retest.

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This is such a vague question.

Why not exert some effort first and apply Fibonacci concepts to your trading and see for yourself first?

Then based on your experience, you can share what worked (or didn’t work) and we can share our thoughts based on our own experiences trading using Fibs.

Please be more considerate to the community next time and avoid such vague and open-ended questions.