Do you believe in Fibonacci levels?

[rzb]

no professional trader would use fibonacci much,good if you want to study nature and other

 

[akashihieu1289]

I'm trying to incorporate Fibonacci levels to my trading system. However I don't know whether retracements or extensions are more suitable for a trend following strategy.

It only try to give you idea for decision of buy or sell ,

 

[LuckyMac]

Yes i definitely do. Do some backtesting choosing a swing high and swing low and fib it to a level. See what percentage R you would be up over 100 trades. Ive not seen anyone with a negative return on this

 

[hamza_jazzs]

i think it's work too but you nedd to chosse correctly your impulse wave