i think is not effective if we are only use fibonacci indicators because in the crypto currency world we should use another indicators like how order buy and order sell for the coins, we need to analyze macd, and other. its good if we can use 2-4 indicators to analyze the coins so we can predicting or we can directly place the orders.
Fibonacci pointers are not the most proposed markers in the business. They are interesting in their working and comes about and can be exceptionally confounding, which can miss lead an apprentice. The speak to the focuses where the stock will either avoid off or break the through in the long run. Be that as it may, utilizing Fibonacci pointers with different markers they consolidated can turn into a capable single device in the exchanging business. So to utilize these Fibonacci markers isn't an awful thought on the off chance that you actualize is precisely and wisely. 
Topic: Fibonacci indicators (Read 1071 times)
I'm using but not on all tokens they works
i think is not effective if we are only use fibonacci indicators because in the crypto currency world we should use another indicators like how order buy and order sell for the coins, we need to analyze macd, and other. its good if we can use 2-4 indicators to analyze the coins so we can predicting or we can directly place the orders.
Fibonacci pointers are not the most proposed markers in the business. They are interesting in their working and comes about and can be exceptionally confounding, which can miss lead an apprentice. The speak to the focuses where the stock will either avoid off or break the through in the long run. Be that as it may, utilizing Fibonacci pointers with different markers they consolidated can turn into a capable single device in the exchanging business. So to utilize these Fibonacci markers isn't an awful thought on the off chance that you actualize is precisely and wisely. 
what i have noticed is traders in crypto usually do not respect the fibonacci levels if it bounce back on a certain level I think it is just a coincidence. I'm just new in crypto currency trading about 4 months now but i have been trading stocks and forex for a while . In stocks and forex usually the fibonacci levels are respected but in crypto I usually just use Support and resistance and sometimes support and resistance also don't work. Each platform has a different strategy to trade.
Thats the different between crypto trading and forex/stocks trading which fibonnaci levels are crucial indications on forex/stocks while on this cryptocurrency world it doesnt really work anytime and this is why i do make use only on seeing support and resistance level by making use of trend lines and i dont usually minding on using fibonnaci indicators on here. 
In forex trading Fibonacci indicator is a very effective tool when formed at s/r levels which reinforce price reversal especially on daily timeframe mostly at level 50% or 61.8% and also to be considered is the type of candlesticks formed at those level e.g pin bar, bullish or bearish engulfing bar, morning or evening star e.t.c.
As far as trading bitcoin is consigned there is no difference if trading with Fibonacci indicator and if Japanese candlesticks is to be considered and based on at least daily timeframe it going to work fine.
As far as trading bitcoin is consigned there is no difference if trading with Fibonacci indicator and if Japanese candlesticks is to be considered and based on at least daily timeframe it going to work fine.
Are you using Fibonacci indicator for charting. Is it effective?
Fibonacci indicators are very effective especially if you are using it to spot support and resistance level and spotting of trend. I have studying it in 2008 when I learned how to trade forex and stocks and since then I have been using it to confirm support and resistance level and it has been very effective. Though there is no any indicators that can accurately predict the market! Fib can get your accuracy near 80% if you follow it's rules. As intriguing as it sounds, how do you get to the conclusion that fibonacci can get get your accuracy to 80%?
Are you using Fibonacci indicator for charting. Is it effective?
Fibonacci indicators are very effective especially if you are using it to spot support and resistance level and spotting of trend. I have studying it in 2008 when I learned how to trade forex and stocks and since then I have been using it to confirm support and resistance level and it has been very effective. Though there is no any indicators that can accurately predict the market! Fib can get your accuracy near 80% if you follow it's rules. As intriguing as it sounds, how do you get to the conclusion that fibonacci can get get your accuracy to 80%?
I find fibonacci numers fascinating but don't know anyone who would use them for investing...still curious how you would use them...
There is no effective method of trading with indicators.But indicators which especially supported with math combinations can help you to detect current market trend.For example,high level line on macd indicator shows uptrend and prices maked upside movement from latest range.
Are you using Fibonacci indicator for charting. Is it effective?
Fibonacci indicators are very effective especially if you are using it to spot support and resistance level and spotting of trend. I have studying it in 2008 when I learned how to trade forex and stocks and since then I have been using it to confirm support and resistance level and it has been very effective. Though there is no any indicators that can accurately predict the market! Fib can get your accuracy near 80% if you follow it's rules.
I find fibonacci numers fascinating but don't know anyone who would use them for investing...still curious how you would use them...
Are you using Fibonacci indicator for charting. Is it effective?
I don't based on other replies that it is not helpful but in myself my trading i do also consider it as one of the trading analysis. I agree on them if they say no because i know every people has a same stratedgy use. 
For altcoin trading I think Fibonacci is more effective than other technical indicators but it depends on the time frame and the volume of the market. When we use fibonaci will be more effective on daily time frames and big market volumes. To be more accurate in technical analysis for the better make combination with other indicators such as RSI.
Fibonacci indicators are working for forex pairs and stock markets but it is not working for crypto market for me. I don't use it.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
i am not always using fibonacci indicators but sometimes i used it just to take a look what fibo said with the price. i think fibo can not apply in trading with correctly because fibo actually is not for crypto currency and the market is always changing. i always check for 5 minutes, 10 minutes, 30 minutes, 1 hour to see my chance in buying or selling and using macd is help too.maybe we an using fibo just to compare with the other so we can have more clue in trading.
what i have noticed is traders in crypto usually do not respect the fibonacci levels if it bounce back on a certain level I think it is just a coincidence. I'm just new in crypto currency trading about 4 months now but i have been trading stocks and forex for a while . In stocks and forex usually the fibonacci levels are respected but in crypto I usually just use Support and resistance and sometimes support and resistance also don't work. Each platform has a different strategy to trade.
Personally I don't find it useful, only a bit confusing. It's cost me more than it's saved me in the past - made me reconsider when I shouldn't have.
I think it's better to do the research into the coin, the team etc. and then HODL for development, news or whatever.
The numbers are just too unpredictable.
I think it's better to do the research into the coin, the team etc. and then HODL for development, news or whatever.
The numbers are just too unpredictable.
Are you using Fibonacci indicator for charting. Is it effective?
In a forex trading yes i used it, but not in crypto trading. For now i can not use fibonacci in crypto because there still not enough pattern in crypto, and also in crypto world the most important things is proof of concept of a coin. As long as i trade litecoin using fibonacci, it give me false result if i follow it i will lose my money
I am surprised by the answers of the other members For me fibonacci is the single most use tool for prediction of market movements retracments and sell points. I just put fibs and make targets buys and selss. You can search youtube there are few good videos about it with more details how to use. Practice is the key
If you are really a trader using fibonacci on crpytocurrency world i would bet that you would say that those indicators doesnt work anytime as they used too and i can really say such thing because i did make use this tool when i decide to trade on here and there are times that fibonacci works and sometimes it doesnt specially on low volume markets, as said above ^ this would be suited for high volume.Most certainly I agee. They do not work everytime and yes usually works with high volume markets. Together with other indicators for market streghnt it gives you nice apporoximation and safer projections usually work, depends how much risk are you willing to take for buy and sell orders..
Are you using Fibonacci indicator for charting. Is it effective?
In a forex trading yes i used it, but not in crypto trading. For now i can not use fibonacci in crypto because there still not enough pattern in crypto, and also in crypto world the most important things is proof of concept of a coin. As long as i trade litecoin using fibonacci, it give me false result if i follow it i will lose my money
I am surprised by the answers of the other members For me fibonacci is the single most use tool for prediction of market movements retracments and sell points. I just put fibs and make targets buys and selss. You can search youtube there are few good videos about it with more details how to use. Practice is the key
If you are really a trader using fibonacci on crpytocurrency world i would bet that you would say that those indicators doesnt work anytime as they used too and i can really say such thing because i did make use this tool when i decide to trade on here and there are times that fibonacci works and sometimes it doesnt specially on low volume markets, as said above ^ this would be suited for high volume.
Almost every trading indicator is tested with high volume. Low volume markets usually are very risky because the indicators fail to often. Almost all crypto markets are low volume so there is your answer. apart from this Fib levels are usually seen as a part of a broader strategy with more indicators than to be used alone.
No, it depends of the style of your writing. That's how it works with fibonacci on crypto world. Everyone is trying to adapt to his own style.
Personally, I used it a lot when I was trying stock trading, but my opinion doesn't matter so much because I never traded bitcoin or any other crypto.
Personally, I used it a lot when I was trying stock trading, but my opinion doesn't matter so much because I never traded bitcoin or any other crypto.
I am surprised by the answers of the other members For me fibonacci is the single most use tool for prediction of market movements retracments and sell points. I just put fibs and make targets buys and selss. You can search youtube there are few good videos about it with more details how to use. Practice is the key
Are you using Fibonacci indicator for charting. Is it effective?
To be honest: NO.
Crypto is different if you want to compare to the normal/stock exc movement.
The main consideration probably:
- update;
- isue of development and cooperation.
I almost do not need Fibo. It is nice to have Fibo for an idea.
Do I have to walk from project to project in order to get an updates about events attach to particular coin or is there any website which list important development events for any particular coin?
Are you using Fibonacci indicator for charting. Is it effective?
I tried to use it in crypto trading but then I think it is not as effective as it is in forex or stocks. One thing is that volume in crypto is not that high so just a small movement of a whale can affect the price greatly. When a price reach a certain point in fibonacci, sometimes it has no effect since there is not enough trader who make it as support or resistance then the price would continue to go up or down unlike in forex or stocks that fibonacci points are vital.
What I do in crypto is to trade base on news and observe also other traders in social media accounts what are the coins they are trading because there are times when just one post of a trader who has many followers will make the price of the coin shoot up. Crypto is just unpredictable but then I am just a newbie in trading so maybe for the professional ones, fibonacci is a helpful indicator to them.
Are you using Fibonacci indicator for charting. Is it effective?
Its not as effective when you use it on FOREX market. It uses the golden rule of course but sure not possible in the new economy because its the development of the project that will fuel its price not just the price action. Fibo won't be able to draw once FUD spread which is why its not really reliable in crypto.
Fibonacci indicators is a great way to analyze the stock and invest based on the present analysis but it is not much used when it comes to crypto.
Cryptocurrency is very volatile in nature and its volatility gives more profit to the traders than any sort of analysis. Understanding the nature of crypto and investing money in it will generate more profit than investing money in shares. That's why more people are investing in crytpo nowadays. There are lots of people becoming millionaire through crypto trading and i guess volatility is the main reason behind it.
Cryptocurrency is very volatile in nature and its volatility gives more profit to the traders than any sort of analysis. Understanding the nature of crypto and investing money in it will generate more profit than investing money in shares. That's why more people are investing in crytpo nowadays. There are lots of people becoming millionaire through crypto trading and i guess volatility is the main reason behind it.
Most people use Fibonacci indicators as support and resistance as a “where to go” and “where the market is going to pivot” type system. Some analysts say that using Fibonacci techniques and strategies to improve your day trading can be effective if you learn how to use it properly
To be honest I don't find fibonacci indicators to be that valuable in trading live markets either, for any asset (even outside crypto).
My suggestion would be to look at:
Book related signals - These are the MOST important indicators, at least in the short term, as they signal supply and demand imbalances. There are tons of things you can do with books if you're creative enough.
Trade related signals - These indicate which way aggressive traders are leaning, which is valuable because those are the participants paying a premium to trade. Be careful though as trade signals are inherently backwards looking, i.e. a trade which swipes the ask will actually reduce demand if no one follows it. Trade signals are useful if you believe the original trader has more desired liquidity yet to come, or if the trader will be followed by other participants on the sidelines.
For slightly longer term signals, I would look at support / resistance type heuristics. You can try searching for "Ichimoku Cloud"; I'm not saying that indicator works exactly, but it will guide your thinking to others which may work better.
My suggestion would be to look at:
Book related signals - These are the MOST important indicators, at least in the short term, as they signal supply and demand imbalances. There are tons of things you can do with books if you're creative enough.
Trade related signals - These indicate which way aggressive traders are leaning, which is valuable because those are the participants paying a premium to trade. Be careful though as trade signals are inherently backwards looking, i.e. a trade which swipes the ask will actually reduce demand if no one follows it. Trade signals are useful if you believe the original trader has more desired liquidity yet to come, or if the trader will be followed by other participants on the sidelines.
For slightly longer term signals, I would look at support / resistance type heuristics. You can try searching for "Ichimoku Cloud"; I'm not saying that indicator works exactly, but it will guide your thinking to others which may work better.
i think is not effective if we are only use fibonacci indicators because in the crypto currency world we should use another indicators like how order buy and order sell for the coins, we need to analyze macd, and other. its good if we can use 2-4 indicators to analyze the coins so we can predicting or we can directly place the orders.
Are you using Fibonacci indicator for charting. Is it effective?
I can say yes, but depending the time frame you used Fibonacci to analysic. Example: Guess the price in 30 days, you need use D1 or T1 and find the lowest price and highest price standard most of in history price, then waiting the price recement to Fib line.
But I not recommend to use Fib in crypto trade, maybe Pivot Point better than Fib
Are you using Fibonacci indicator for charting. Is it effective?
Just as been said above Fibonacci isnt useful on crypto currency trading and i have already test it out and i can say it doesnt really work out because prices dont tend to follow its indication. This is only good on forex and stocks trading but on crypto its just really a useless thing i would rather use MACD and draw some trend lines its much better to me on spotting out the movement but knowing the next price is the hardest part because anytime it would crash or pump. Are you using Fibonacci indicator for charting. Is it effective?
To be honest: NO.
Crypto is different if you want to compare to the normal/stock exc movement.
The main consideration probably:
- update;
- isue of development and cooperation.
I almost do not need Fibo. It is nice to have Fibo for an idea.
Are you using Fibonacci indicator for charting. Is it effective?
Jump to: