Fibonacci For The Active Trader

Finding reversals in trading - Understanding and applying Fibs to trading is essential to my trading now. Fib numbers help me find likely reversal zones in both day and swing trading. The institutions are programming their computers for the common Fib levels, so the private trader needs to know where these levels are to play off the institutional traders. Hobbs does a good job of illustrating how Fibonacci can be used to find likely reversals setting up. The interesting thing is that Fibs can be added to almost any trading strategy to make that strategy more powerful. It s one more tool for justifying trading decisions and giving you a little extra edge.