As someone who's relatively new to trading and any form of technical analysis, could someone please explain the logic behind fibonacci levels, harmonic price patterns, etc? I mean, why is price any more likely to react to a fibonacci level than any other level randomly drawn on a chart. Is it just a self-fulfilling prophesy, witchcraft, or what?
- Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,486 Posts
MT4/MT5 EAs/Indicators/Alerts coder
- Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,486 Posts
MT4/MT5 EAs/Indicators/Alerts coder
- Joined Aug 2006 | Status: Member | 4,807 Posts | Online Now
The Only Limit, is the One that you Set Yourself - Felix Baumgartner
- Joined Aug 2006 | Status: Member | 4,807 Posts | Online Now
The Only Limit, is the One that you Set Yourself - Felix Baumgartner