Fibs???

[purospips]

Whats the best way to use fibs?? What other indicator would you use with fibs???

[finvik]

Fibonacci numbers:
The Fibinacci number sequence (1,1,2,3,5,8,13,21,34…..) is constructed by adding the first two numbers to arrive at the third. The ratio of any number to the next larger number is 62%, which is a popular Fibonacci retracement number. The inverse of 62%, which is 38%, is also used as a Fibonacci retracement number. (used with the Elliott wave theory, see hereunder)
Gann numbers:
W.D. Gann was a stock and a commodity trader working in the 50’s who reputedly made over $50Mio in the markets. He made his fortune using methods which he developed for trading instruments based on relationships between price movement and time, known as time/price equivalents. There is no easy explanation for Gann’s methods, but in essence he used angles in charts to determine support and resistance areas and predict the times of future trend changes. He also used lines in charts to predict support and resistance areas.

To explain it properly i have taken this image from the other site.

[ericjones]

thanks for ur nice post it helps me a lot

[finvik]

thanks for ur nice post it helps me a lot

You are most welcome if you want to know more then please feel free to ask anything.

[FXCode]

Entering after a retracement to 38.2, after a strong trend.
I have a friend who trades only these formations - and makes a lot of money.

[forexboy]

Entering after a retracement to 38.2, after a strong trend.
I have a friend who trades only these formations - and makes a lot of money.

Wow thanks, I'll give it a try.

[forexguide]

This is amazing.. That is really helpful.. I was never aware with this.. But the moment you shared this..It gives me a broader idea..