As explained in the video, I’m starting to think harder about fibonacci retracements, and whether I can justify a meaning for them. In the past, my position has been that the lines just give you a nice psychological “budge” that allows you to pull the trigger easier. You know, like instead of waffling “has it retraced enough… is it showing enough strength now, or should I wait?” … you simply wait for it to cross the magic fibonacci lines and jump in. But, maybe there could be more to it than that. Jury’s still out… it certainly didn’t improve my returns today! :-)
… and here’s some fibonacci propaganda I found:
Watch this post's video on Youtube
Watch this post's video on Youtube
