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Showing results for tags 'fibo'.
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Ok, I am always been a big fan of 61.8% Fibonacci Ratio (so is 50%) - but why are Fibonacci Ratios of 88.6%, 78.6%, 127.2% useful? I see them in Gartley patterns and the instrument I trade - GC futures. I saw many threads online regarding it is good in Forex ... However, no one had address the issue of why it works - I see the pattern in GC for 88.6% on the 60 min chart from last Friday up to current, for example, in addition to the 61.8% and 50%. My objective is to determine why it works and hopefully determine when it will have a higher probably of working.