Fibonacci theory has just become more clearer to me in under 10 minutes due to your great video than it has in 10 months from other sources. I discovered your platform and videos about a week ago and have watched lesson after lesson. You have a great way of teaching. Thank you.
I'm having a hard time with this indicator. I appreciate the math and theory that went into it....but if you throw enough lines on your chart, you can always make an argument for support and resistance in any particular area.
@@jonstnr I understand exactly. it may be subjective, just remember that once the candle hit the target area, you may want to add more indicators that will agree with your analysis as well.
From knowing nothing beyond it being TA, this short explanation was direct and to the point, and shown excellently. Very simple to understand the way it is laid out etc. What id love to see now is how the fib lines are actually used by traders who really focus on it. I kno you said don’t trade based off fib but you explain everything very succinctly. Awesome
Never get bored of watching the videos you do david , you explain everything so clearly and in detail , I dont know of anyone that can do it better than you
Fibs aren't meant to be used alone, but can be used as a confirmation of other technical analysis, or to predict profit targets (again as a confirmation of predicted price action). As with anything, they don't work all the time, but as a tool, they can be quite effective. After all, the Gartley pattern, Bat pattern, Cypher pattern are all fib based. And they can be very profitable patterns (if backtested properly).
Most of anything, David's humility is very evident in the manner he explains. Baises seem to be out. Great job David for us to easily understand Fibonacci Retracements.
I love davids style of teaching. Very informed and honest about his opinion, yet regardless he still provides a wonderfully clear explanation of the subject. Well done, but one thing that would be nice, but could possibly be out of the scope of what these videos ultimately aim to achieve, would be to mention not only that you personally are not a fan of fibonacci but to check out ___ form of analysis that you are a fan of. Once again, great video!
Lot of folk jumping in and saying he's not applying it properly- but none has offered an axplanation as to how exactly it should be used. Easy to neg everything- to put up or shut up would be fair I think.
First time I ran across your videos, David...EXCELLENT video! Very well explained in layman's terms. Congratulations for not confusing the crap out of me.
Anyone who says Fibonacci retracements don't work doesn't know how to use them. It's like the people who say short term investing doesn't work. My reaction when he said that was probably the same as his when people find out he's a trader and tell him how the financial markets are a scam and no one can really day trade successfully: "Whatever bro. It's making ME money."
He said it's not for him but he explained it well. Mostly because of the basis of retracements, how it's most likely just some absurd self-fulfilling prophecy.
I appreciate the evenhanded treatment of it. A skeptic could pretty easily say that if you draw 4 lines on a graph, give each one a certain margin of error, and always have a plan B prediction, it would be hard not to get somewhere in the ballpark, but all of those contingencies of "well if it breaks this level just go lower" is about the same kind of money pit as saying you should just double your bet every time you lose at blackjack.
What indicators do you like or use bud your obviously a great trader so we would love your recommendations. This would be more valuable to us I think.cheers for your great vids
Hello and thank you very much for the video. In 5:40, you stretch a Fibonacci line from about 1120 to the high. I would love to know why you are not stretching the Fibonacci from the last low point that was priced around 1190 ? it will help me a lot, thanks
Hello David, I have watched almost all your video series. you are explaining the concepts very clearly. that's really helping me to understand the market better. could you please make a video about the Market depth and how it will affect the price action. Thanks alot
I tried watching till the end but I lost the will to live.Trade 212 is a great platform massive learning curve for me really getting hooked and enjoying losing my money lol
That explains the possible utility for the 50% or 61% retracement levels. What is the utility of other levels then? Why not just providing those two levels in the graph?
Hi David, love the videos. Always very informative. I have watched a number of your videos and see that you are 'not a fan' of some of these indicators. What indicators are you a fan of. :-)
Your use of fibonacci levels isnt wrong, but that's not how algo use fibs to trade. They're doing extensions from dominate pivots. Understanding that might change your opinion of the validity of fibonacci in trading. Good video
Thank you, a well-explained video. Could you please explain the difference between volume and tick volume and how to use the tick volume? I'm a bit confused to see a company trading over 1M shares a day while the tick volume reads only a few thousand ticks. Successful trading!
Hi thanks for the video. Can you please make a video about the different time trading charts ( 5,10mins, 1 day and so on charts). What is the connection between them and when to use which time chart? Will be helpful for a new trader like myself! Many thanks in advance
I am a beginner trader and like Fibonacci because I think so many people believe in it that it affects the Fibonacci trading to become true. Am I making sense?
Hi, I got a question if u don't mind helping me. I wanna ask whether the patterns where there's about to be price retracements and reversals are the same or not? (i.e : pin bar, engulfments, hammer etc..) Appreciate your help, thanks very much !
Hi Dennis. I think there are slight differences in how they look but the psychology underpinning them is broadly the same. It's all about a current trend getting to an exhaustion stage. They can offer good potential in terms of risk versus reward but as ever none of this stuff works all the time so it's important to have a stop loss or something if that previous trend continues.
Tradiingview added the Fib indicator in the last couple of weeks that auto-draws-but just traditional. In my opinion, I think one major reason these work-on the entries especially,-is that 1000s+ of traders are entering right at or very close to the same levels all at once because they are watching the same thing. It's similar to a group of "whales" deciding when to get into a Crypto trade just to "pump" the trade. However, in their case they have a predetermined sell point which really hurts people buying in and not aware of it or when to exit. . It's like a self-fulfilling prophecy.
I really enjoyed this video...even though you don't like them would you consider a video where you could show some examples of how you might use Fibonnaci in conjunction with other indicators to make more informed trading choices?
Hello Sir. Thanks a lot for this information on Fibonacci. Question. What is the ideal timeframe when trading fibonacci in FOREX? Would it be in minutes? hours? days? for me to get an accurate result. Thanks in advance. Keep it up.
Hi there, depends on your trading strategy, style, goals and preferences. Typically, it is believed that bigger time frames on the chart provide more reliable trading signals.
Thank you very much for such a great sharing session .... you are a great master ..... expecting much more from you ... thank you once again... god bless you
Based on some negative comments about this video, does this way of fib retrace only applies to just currency trade? I wonder if it does work on commodities chart.
I would use it for lower time frames and liquid instruments like forex, but for the big picture support, resistance, moving average and trends are more than enough
I feel like the only reason this would work is if many other traders were using it too, basically just deciding it should stop at that hidden support because of this “magical” ratio.
Hi there. Thanks for reaching out. Your comment will be taken into consideration, as usual. You can take a look at those videos about the RSI: How to Use the RSI - ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-jCNmjC8Uxqk.html Identifying RSI Divergences - ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-TeKNi5ySp_g.html
