The Problem with Fibonacci Levels
Fibonacci ratios are everywhere in the world of trading, whether you trade forex, cryptos, stocks, futures, or “other”. It’s very common for traders to rely on key Fibonacci extension and retracement levels in their trading. Also, it’s well known that Fibonacci ratios are a particularly important aspect of Elliott Wave trading.
However, unless you’re using WaveBasis, it’s likely that the Fibonacci levels you’re following are often arbitrary and plain wrong. » » »