Fibonacci indicators

[waiberz]

Are you using Fibonacci indicator for charting. Is it effective?

[viralz]

Are you using Fibonacci indicator for charting. Is it effective?

To be honest: NO.
Crypto is different if you want to compare to the normal/stock exc movement.
The main consideration probably:
- update;
- isue of development and cooperation.

I almost do not need Fibo. It is nice to have Fibo for an idea.

[milewilda]

Are you using Fibonacci indicator for charting. Is it effective?

Just as been said above Fibonacci isnt useful on crypto currency trading and i have already test it out and i can say it doesnt really work out because prices dont tend to follow its indication. This is only good on forex and stocks trading but on crypto its just really a useless thing i would rather use MACD and draw some trend lines its much better to me on spotting out the movement but knowing the next price is the hardest part because anytime it would crash or pump.

[que91]

Are you using Fibonacci indicator for charting. Is it effective?

I can say yes, but depending the time frame you used Fibonacci to analysic.

Example: Guess the price in 30 days, you need use D1 or T1 and find the lowest price and highest price standard most of in history price, then waiting the price recement to Fib line.

But I not recommend to use Fib in crypto trade, maybe Pivot Point better than Fib

[ipanks]

i think is not effective if we are only use fibonacci indicators because in the crypto currency world we should use another indicators like how order buy and order sell for the coins, we need to analyze macd, and other. its good if we can use 2-4 indicators to analyze the coins so we can predicting or we can directly place the orders.

[evermarkets]

To be honest I don't find fibonacci indicators to be that valuable in trading live markets either, for any asset (even outside crypto).

My suggestion would be to look at:

Book related signals - These are the MOST important indicators, at least in the short term, as they signal supply and demand imbalances.  There are tons of things you can do with books if you're creative enough.
Trade related signals - These indicate which way aggressive traders are leaning, which is valuable because those are the participants paying a premium to trade.  Be careful though as trade signals are inherently backwards looking, i.e. a trade which swipes the ask will actually reduce demand if no one follows it.  Trade signals are useful if you believe the original trader has more desired liquidity yet to come, or if the trader will be followed by other participants on the sidelines.

For slightly longer term signals, I would look at support / resistance type heuristics.  You can try searching for "Ichimoku Cloud"; I'm not saying that indicator works exactly, but it will guide your thinking to others which may work better. 

[Cheburekus]

Most people use Fibonacci indicators as support and resistance as a “where to go” and “where the market is going to pivot” type system. Some analysts say that using Fibonacci techniques and strategies to improve your day trading can be effective if you learn how to use it properly

[pawanjain]

Fibonacci indicators is a great way to analyze the stock and invest based on the present analysis but it is not much used when it comes to crypto.
Cryptocurrency is very volatile in nature and its volatility gives more profit to the traders than any sort of analysis. Understanding the nature of crypto and investing money in it will generate more profit than investing money in shares. That's why more people are investing in crytpo nowadays. There are lots of people becoming millionaire through crypto trading and i guess volatility is the main reason behind it.

[fudster]

Are you using Fibonacci indicator for charting. Is it effective?

Its not as effective when you use it on FOREX market. It uses the golden rule of course but sure not possible in the new economy because its the development of the project that will fuel its price not just the price action. Fibo won't be able to draw once FUD spread which is why its not really reliable in crypto.

[entrepmind23]

Are you using Fibonacci indicator for charting. Is it effective?

I tried to use it in crypto trading but then I think it is not as effective as it is in forex or stocks. One thing is that volume in crypto is not that high so just a small movement of a whale can affect the price greatly. When a price reach a certain point in fibonacci, sometimes it has no effect since there is not enough trader who make it as support or resistance then the price would continue to go up or down unlike in forex or stocks that fibonacci points are vital.

What I do in crypto is to trade base on news and observe also other traders in social media accounts what are the coins they are trading because there are times when just one post of a trader who has many followers will make the price of the coin shoot up. Crypto is just unpredictable but then I am just a newbie in trading so maybe for the professional ones, fibonacci is a helpful indicator to them.

[juri543]

Are you using Fibonacci indicator for charting. Is it effective?

To be honest: NO.
Crypto is different if you want to compare to the normal/stock exc movement.
The main consideration probably:
- update;
- isue of development and cooperation.

I almost do not need Fibo. It is nice to have Fibo for an idea.

Do I have to walk from project to project in order to get an updates about events attach to particular coin or is there any website which list important development events for any particular coin?

[the-doctor]

I am surprised by the answers of the other members For me fibonacci is the single most use tool for prediction of market movements retracments and sell points. I just put fibs and make targets buys and selss. You can search youtube there are few good videos about it with more details how to use. Practice is the key

[dumbtool45]

No, it depends of the style of your writing. That's how it works with fibonacci on crypto world. Everyone is trying to adapt to his own style.

Personally, I used it a lot when I was trying stock trading, but my opinion doesn't matter so much because I never traded bitcoin or any other crypto.

[amaral1977]

Almost every trading indicator is tested with high volume. Low volume markets usually are very risky because the indicators fail to often. Almost all crypto markets are low volume so there is your answer. apart from this Fib levels are usually seen as a part of a broader strategy with more indicators than to be used alone.

[Hamphser]

I am surprised by the answers of the other members For me fibonacci is the single most use tool for prediction of market movements retracments and sell points. I just put fibs and make targets buys and selss. You can search youtube there are few good videos about it with more details how to use. Practice is the key

If you are really a trader using fibonacci on crpytocurrency world i would bet that you would say that those indicators doesnt work anytime as they used too and i can really say such thing because i did make use this tool when i decide to trade on here and there are times that fibonacci works and sometimes it doesnt specially on low volume markets, as said above ^ this would be suited for high volume.

[Phildo]

Are you using Fibonacci indicator for charting. Is it effective?

In a forex trading yes i used it, but not in crypto trading. For now i can not use fibonacci in crypto because there still not enough pattern in crypto, and also in crypto world the most important things is proof of concept of a coin. As long as i trade litecoin using fibonacci, it give me false result if i follow it i will lose my money

[the-doctor]

I am surprised by the answers of the other members For me fibonacci is the single most use tool for prediction of market movements retracments and sell points. I just put fibs and make targets buys and selss. You can search youtube there are few good videos about it with more details how to use. Practice is the key

If you are really a trader using fibonacci on crpytocurrency world i would bet that you would say that those indicators doesnt work anytime as they used too and i can really say such thing because i did make use this tool when i decide to trade on here and there are times that fibonacci works and sometimes it doesnt specially on low volume markets, as said above ^ this would be suited for high volume.

Most certainly I agee. They do not work everytime and yes usually works with high volume markets. Together with other indicators for market streghnt it gives you nice apporoximation and safer projections usually work, depends how much risk are you willing to take for buy and sell orders..

[Mahanton]

Are you using Fibonacci indicator for charting. Is it effective?

In a forex trading yes i used it, but not in crypto trading. For now i can not use fibonacci in crypto because there still not enough pattern in crypto, and also in crypto world the most important things is proof of concept of a coin. As long as i trade litecoin using fibonacci, it give me false result if i follow it i will lose my money

Theres no really pattern when you are using fibonnaci levels on crypto trading. Market is really volatile and unpredictable on here unlike on forex which those indicators do really have use on those fields because most of the time these tools do work but here is an another story.If you do really force to use it then expect you would really feel the difference and the results would really be not as you expect.

[diguyo]

Personally I don't find it useful, only a bit confusing. It's cost me more than it's saved me in the past - made me reconsider when I shouldn't have.

I think it's better to do the research into the coin, the team etc. and then HODL for development, news or whatever.

The numbers are just too unpredictable.

[Nerman]

what i have noticed is traders in crypto usually do not respect the fibonacci levels if it bounce back on a certain level I think it is just a coincidence. I'm just new in crypto currency trading about 4 months now but i have been trading stocks and forex for a while . In stocks and forex usually the fibonacci levels are respected but in crypto I usually just use Support and resistance and sometimes support and resistance also don't work. Each platform has a different strategy to trade.