Obviously Fibonacci works better when you use longer term charts...this is a 15M chart...but it has been a huge part of my trading success (clicking on the chart gives you a clearer view):
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Are These Stocks Naughty or Nice?
5 years ago
Friday, May 22, 2009
Another Excellent Tool...Fibonacci
Here is a picture of the present trade. The reason why I only did a half position at first was in case we showed a little more weakness. We did...then I added more...and now take a look at the chart...and see how traders use Fibonacci. It is amazing how this happens much more then it doesn't.
Obviously Fibonacci works better when you use longer term charts...this is a 15M chart...but it has been a huge part of my trading success (clicking on the chart gives you a clearer view):
Obviously Fibonacci works better when you use longer term charts...this is a 15M chart...but it has been a huge part of my trading success (clicking on the chart gives you a clearer view):
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