RE: Fibonacci, why it works.

["Bill Eykyn" <T-Bondtrader@xxxxxxxxxxxxxxx>]

Harley! Great response.. I disagree of course, and will explain
in a while.. First I want to see if others have any opinions, since
the subject is very exciting to me, and I'd like to hear the 
opinions of others before effecting the flow of ideas..

Thanks for the reply.

-Neal.

I'll kick off the responses for you.

It doesn't matter why Fibonacci works, it is the fact that it does.  If you 
are having a hard time deciding on a 5th wave, or Gann angle, try using a 
retracement tool with Fib lines on them:  suddenly, life will take on a whole 
new meaning!

Since Fibonacci numbers are so prelavent in nature, it is not surprising they 
work where there is a crowd of traders.  Just because the concept gets 
compounded by the fact that those who use it are followed by those who use it, 
just makes it all the better for everyone who is using it!

Let's face it, these are cardinal points to be able to trade the markets:

Support, Resistance, Fibonacci Numbers and Moving Averages.

These are predictive tools on which you can, with good money management, base 
your trading, in a liquid market, and earn a living.  

QED!!

Well done, Leonardo of Pisa, I say...  

Bill Eykyn
t-bondtrader@xxxxxxx





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