So can I safely say that in most instances prices will continue to drop following the 25 percent line?
Or if I say that there's high likelihood that the price will drop?
So can I safely say that in most instances prices will continue to drop following the 25 percent line?
Or if I say that there's high likelihood that the price will drop?
Sorry Nader.. I thought you're serious about it...Originally Posted by ;
You got me there!
A lot of people use the fib numbers in a lot of ways. There is probability that price wil reach/bounce particular fib levels.Originally Posted by ;
For your fib retracements, I think a lot view it as support/resistance levels significance there's a probability that price will probably bounce round that region.
But as to the way high/low that probability is, I don't have any idea. For me personally, they seem to be.
But when you ask will you safely say, no, you can not safely say. You need to look at it for yourself and arrive at your own conclusions.
I am not wanting to be rude here. Just saying to be more careful enough of your decisions.
(Am I making sense? Nope, I don't think so also. . )
These are only my opinions by the way and how I look at it. See for your self if it fits you.
Hope this helps,
East
Fib retracements are similar to asking for instructions, when driving and someone says, you go to the red barn and turn left, instead of say, GPS which will instruct you exly where you want to be. There's not any GPS in any market. At best one can forecast the market the way one forecasts that the weather. It can never be predicted by one.
I feel that the reason price congregates and is repelled at fib numbers is much the exact same reason why Pivot figures operate so well. It's because large populations of traders use them as support and resistance lines and so price will naturally be forced to seek them. It does not matter whether there's some underlying force on the market or the world or what . All that matters in trading is can the number be relied on to get a given actions. Because numerous buyers and sellers use these numbers, I am very confident they can.
SMJ
Originally Posted by ;
The one thing you know about price is it can do one of three things, go up, go down or move sideways. And there is a 33.333% chance it will do one of them.Originally Posted by ;
What you could learn is to watch the behavior of the price. Notice if it hits the 25% line, it rebounds up a little, then tests that the 25% line again (where the lengthy Zig Zag hits). So you know people are buying there. It then goes up and evaluations that the 38.2% lineup. When it broke through this, then the bulls rule and you could go long with a goal of 61.8, in which the last support broke.
But it failed in the 38.2percent and went back to 25% and through it. It tested it for a little while, discovering where there were buyers, there are sellers. So that you think about selling now, probably below the 1.1595 where the last Zig Zag is. If you offered at 90, you could have picked up 50-60 pips here.
But this is looking at the market after it occurred. If this action is at the right side of the screen, you can not estimate probilbiites, you may just earn a plan in the event the price does one of three things, move up, go down or move backward. Learn to tell where buyers turn into sellers, like in the 25% line in this case, and you'll earn money.
Thank you videoj.
I knew better after your explaination. Hmmm looks like I have to give myself more time to watch and learn. haaa...
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