Hi all,
I am still working on a final trading plan and I am 50/50 whether I am going to use fibonacci lines, or not, and I was looking for the community's opinion in this regard.
I draw my own lines of significant support/resistance, which often coincide with certain levels 38.20%, 61.80%, etc, and often are more accurate in terms of where the wick rides up/down to.
I know that a lot of people use them, so that they are sometimes a self fulfilling prophecy, but I wondered how many of you actively use/trade them.
One of my New Years resolutions is to keep my charts as clean as possible, so I'm looking into whether I really need this.
Best, Luzbay.
I am still working on a final trading plan and I am 50/50 whether I am going to use fibonacci lines, or not, and I was looking for the community's opinion in this regard.
I draw my own lines of significant support/resistance, which often coincide with certain levels 38.20%, 61.80%, etc, and often are more accurate in terms of where the wick rides up/down to.
I know that a lot of people use them, so that they are sometimes a self fulfilling prophecy, but I wondered how many of you actively use/trade them.
One of my New Years resolutions is to keep my charts as clean as possible, so I'm looking into whether I really need this.
Best, Luzbay.