Fibonacci Retracement

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Why Fibonacci Retracement levels are NOT the most logical place to take your entries, and exits for day trading or swing trading stocks, Forex or futures.

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Barry Burns
Top Dog Trading
TopDogTrading.com
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Comments

SLKZ says:

This is basically binary retracement!

Gentle Brother says:

Barry, I've just watched your free training class and honestly, it's like you've taken the blindfold off me. It's going to take some mental reconditioning to apply what I've learnt, but I have to say, you're awesome!!

TaureanKing says:

well the 6.25% retracement level does make sense when a stock is very bullish, very shallow pullbacks, right?

Jurij abrazevic says:

Great thanks.

Zebra Black says:

Many thanks!!!!

Phoebe Peng says:

What I don’t understand is, even we have the projected levels, we still don’t know the most probable level or direction of the market. The mkt reached the level but it can either go up or down.

kkovler says:

too bad Fibonacci Retracements, they often don't work in this "financial engineered" market. same can be said for predicting movement up with Fibonacci projections!

J.L.J. says:

One man's chaos is another man's science, how Gann came up with so many methods of trading is still a mystery today. I'm still trying to understand his timelines and that's only one of his creations…And the band played on.

al ri says:

Dr. Barry, do you use Gann's methods in your trading? Re; circle, squares etc

swapnil says:

How about Fibonacci extension. Has Mr Gann specified anything for extensions?

Fergal Sheehy says:

Your top dog trading videos are very much appreciated Barry, thanks a million for all your trading education and advice

Steve Arena says:

Thank you for the look at Gann vs Fibonacci retracements, but here the problem as I see it.
1- to use this as you are suggesting without considering market structure is a sure fire method of disaster
2- many more people are familiar with Fibonacci and in turn it becomes a self fulfilling prophecy, as the retracement levels are respected
3- you also did not describe if we use Gan retracements from swing high to swing lows
And then line up the common retracement lines between 2 independent drawings.

1811bruce says:

Thank you Barry for all that you do!

Ranjit Singh says:

Thanks for sharing this information sir.

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