How to Use Fibonacci Analysis in Real Life
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- čas přidán 5. 09. 2024
- This video is the 3rd video in our Advanced Trading section of reallifetrading.com
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trading fibonacci analysis, using Fibonacci analysis,
Elliot Wave and FIBS are just a lil extra sauce, a lil extra seasoning if you will. Who doesn't love a lil extra SAUCE AND SEASONING ?!?!?!?! More and more weapons getting added to arsenal. LETS GOOOOO !
:)
Algo’s use Fib’s.. S&P fell to exact levels March 2020. I find they work best on high time frames.
Indeed.
Jerremy, you are great! thumbs up especially for the video on Credit Spread Exit or Unravel... 2nd the most likely on Fibonacci. Keep it up man
Imran Khalid Thank you SOooo much!!!
for those of you new to fib analysis, put the same fib from 21:26 on an aapl chart and it will blow your mind
Thanks for the comment
In the format properties, you can extend the lines across the screen
oppss, you found it...lol
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always listen to all of your courses, there very to understand
Lori Favela Thank you. :-)
Great video. i am a little confused about one part.
At 11:05, you decided to use another wave for the fibonacci extension. However before that part, you were using the wave that occured before (the green wave at 10:30). Why did you decide to switch waves? Are you allowed to keep on moving the extension upward when the stock is hitting all time highs? If that is the case, then doesn't mean you are assuming the stock will keep on going higher and higher? And then when do you know fibonaccis are no longer working and that the stock is transitioning into distribution?
i also have a quick question. what are the best fibonacci decimals that show support (where the price tends to traces back)? i saw that the .5, .618 and the 1 seemed pretty good from the video. thanks
+gains The beautiful part is, you ALWAYS have different waves. No one wave is 'the perfect wave'. I decided to switch waves to simply show any one wave can work as long as it's a confirmed wave. (Meaning, you've drawn your Fibs and everything works and syncs up well. Are you allowed to keep on moving the extension upward when the stock is hitting all time highs YES
If that is the case, then doesn't mean you are assuming the stock will keep on going higher and higher? Correct. Most do. And when they retrace, you can use old fib areas to find where support could be.
i also have a quick question. what are the best fibonacci decimals that show support (where the price tends to traces back)? i saw that the .5, .618 and the 1 seemed pretty good from the video. thanks Yep. Those are the ones. I've got an E-Book on the topic too. www.reallifetrading.com/free-products/fibonacci-secrets
Nice 👍😊
Thanks
Hey Jeremy, Can we use Fib retracement or elliot waves in intraday. Which one is better, I feel like these retracement gives us some confidence when we merge with candle patterns.Thanks
navyath reddy Absolutely!! :-)
navyath reddy I personally like EW over FIBS.
@@RealLifeTrading Okay, I will go watch the Elliot wave video and try to apply gapped stocks for intraday. Will share the feedback,thanks.
3:34 Newb question! I noticed you're drawing your fibs from right to left. Have I been doing it wrong this whole time?
It's doesn't matter how you draw them, as long as you understand the ratio and concept. :)
Hmmmm... there's two things I notice (and thus two reasons why I ask this)...
First, the 0% and 100% points are reversed (at opposite ends) depending on the direction you draw it, which means if you extend out 1.382, 1.618 etc, they will end up going in the wrong direction if you draw it wrong. In other words, if you think things are going bullish, you draw from left to right, and you can create higher fib points.. if you drew it from right to left, this would be impossible because the points would be placed lower, not higher.
The second thing/reason is because the 0.786 and 0.236 fib points get plotted slightly differently depending on the direction you go. 0.786 is slightly nearer to 1 than 0.236 is to 0. So if you believe in the entire Ancient Greek "Golden Ratio" theory at all (which is the basis for Fibonacci) I would think one would want to adhere to the proper direction to get the most accurate results. But that's just my take on it!
If you click on Format and select "Reverse" you can quickly toggle between the two and see what I'm talking about. Why the software allows a trend to be drawn in reverse of time is beyond me!
Here's some additional insights into FIBS as well. reallifetrading.com/free-products/fibonacci-secrets :)
I guess what I'm confused about is what do the 0% and 100% really represent? The beginning and end of something?
Yes. They simply represent the beginning and ending of the wave you're measuring.
Morgan Stanley on the 180 D / 4 H
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So that confluence at 117 was pretty strong eh :)
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