Tag Archives: Fibonacci retracment
How accurate fibonacci levels are (chart)
$ES_F $TF_F $NQ_F All hit 1st resistance levels of 2084.25, 1157 and 4451 & were rejcted. #simple #fib
— David Busick (@TheFibDoctor) Jun. 12 at 08:36 PM
Correctly drawn Fibonacci levels NQ
Correctly drawn Fibonacci levels yield perfect entry, exit, re-entry, exit & 2nd re-entry $NQ
I tell every new student this, “If you give 10 people a chart and ask them to draw Fibonacci levels on it, you’ll get 11 different draws.”
If you draw fibs correctly, you get highly accurate entry and exit levels; case in point below.
- Short entry level = 4539.25. High = 4539.25
- Target Hit at 4509. Low = 4509.
- Re-entry long = 4509.
- Short entry again = 4535 – 4539.
NASDAQ E-Mini Futures – 1-hour chart
Correctly drawn Fibonnaci levels on NQ
Thanks,
Dave