InvestorsHub Logo
Followers 35
Posts 1358
Boards Moderated 0
Alias Born 08/10/2017

Re: QuantumTravesty post# 54311

Wednesday, 05/31/2023 2:29:35 PM

Wednesday, May 31, 2023 2:29:35 PM

Post# of 60356
That's fine, I think charting trends is useful too. That said, 50% which is not a real Fibonacci number is as good a number to use as an inflection point for a trade, as any real Fibonacci number for predicting markets. Which is to say that as a tool Fibonacci numbers have been shown to no more predictive of stock market trends than random chance, as is explained in this link.

https://www.sciencedirect.com/science/article/abs/pii/S0957417421012495

However If you look at the tape it's obvious that someone is manipulating the price, to what end I don't know, I guess we will all have to wait and see.