Fibonacci was one of the indicators that I was using in trade but later I saw that it was giving some kind of biased direction because you can adjust it or draw it to suit the market move.
This is the real reason why I don't make trades based on what one indicator, time frame, or strategy is telling me. Often times, I combine Fibonacci retracement tool with moving averages. Other times I use ot along with RSI. Indicators gives me the general idea of where the market is currently heading. I use Fibo when I want to set up buy/sell orders.
I apologise it is long but a lot of good value here on how you can use it.
https://www.youtube.com/watch?v=QIVEXr42Hho
Still cool. Muchas gracias.
