Fib ratios are quite effective and works properly if used in correct way.....you must know how to use the Fibonacci Calculator
For upswing stocks:
Positional Trades: Plug in the low of Intermediate Low and the recent high for Long entry. .
Intraday Trade: Plug in the previous day low and Closing price for LONG entry.
For Downswing stocks:
Positional trade: Plug in the High of Intermediate swing and the recent low for short entry.
Intraday Trade: Plug in the previous day high and Closing price for SHORT entry.
Here you will find the fib and pivot point calculator...
http://www.icharts.in/calculators.html
Important:
1.Always have two points as filter for SL.
2.By default, “C” value is taken as 38.2% retracement of swing, for calculating the TGTs (Fib Expansion)
Caution: You should always trade using both charts and Fibonacci together. Charts at times work better than Fibonacci ratios, and vice versa. You need to take advantage of which one works well during real trades. When you combine and use both charts and Fibonacci technique, you have high probability of trades. Whether Fibonacci calculator can be used as a STANDALONE basis, is only for the trader to decide.
For further assistance send add request to dhanvarshagrp at YIM.
