EWT and Fibs

Ki, you can see where the next Resistances or supports are by using the Fib Extensions, the dow video bit towards the end shows where the next resitances will be eg. 14000 & 17000 at the 161.8% fib extension.

OK thanks remo. So could or would you be able to use the fibbo to forecast future prices or are we only looking to confirm where a price has been. Sorry to be a nuisance but i would like to try and understand this fibbo trading. All help appreciated. KI.

hi KI

This video was to show how to use fib extensions not the entry method.
by showing the video people can see how roughly to use the extensions. Lots of people dont know how its done so hence the video.
Fibs should incorporate the extremes and not in-between .
The idea of the fib extensions is to see where the supports and resistance will be so you should be able to work out where to exit or enter.
It also depends on what method you use.
So basically im just showing how a fib is plotted and thats it really.
You need to have a method in play before you use the fib extensions.

hope that makes sense
remo

Remo, if i may ask, why when you set your fibbo`s do you ignore the initial HH and the first LL. It looks like you have no entry point except for a load of fibbo no`s on this video. Also the fib extension although visual are not promoted as targets.

This is just an observation on my part. KI.

Jackozy not jogozy, sorry finger trouble!!

Your Video is brilliant & explains everything so clearly, Thanks! With your examples & jogozy’s, myself & others on chartsview can clearly see the importance of using Fib Extensions, I can now apply this method to help understand things more clearly, along with other technical methods this will be useful.