Fibonacci retracements have been very accurate the last few weeks as certain markets move into a trading range.
What blows me away is that Fibonacci has been dead for over 750 years and yet today, in a world Fibonacci could never have imagined in his wildest dreams 750 years ago, we are still using his very old formula to accurately make money in the stock market.
If you are a regular reader of Guerilla Stock Trading then you'll know that a couple of weeks ago I took a look at the gold market. I predicted a pullback in the spot gold market to a certain level. Well that's exactly what happened! I nailed this prediction because it is exactly a 61.8% Fibonacci retracement.
But gold was not the only market this happened in.
In fact, all stocks routinely pullback to Fibonacci retracement levels and knowing this will help you improve your trading accuracy.
In the video below, I show you a major market that did a Fibonacci retracement and how you can profit from it.
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Stock Quotes
| NASDAQ | 2839.08 | |||||||
| S&P 500 | 1316.63 | |||||||
| ^RUT | 759.63 | |||||||
| TVIX | 9.10 | |||||||
| FCEL | 0.9899 | |||||||
Stocks Above I Currently Hold In My Own Trading Account: TVIX, FCEL
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Guerilla Trader Quote
“All Warfare is about Deception. Hence, when able to attack, we must seem unable; when using our forces; we must seem inactive; when we are near, we must make the enemy believe we are far away; when far away, we must make him believe we are near.... If your opponent is choleric temper, seek to IRRITATE him. Pretend to be Weak, That he may grow ARROGANT.”
by Sun Tzu
“All Warfare is about Deception. Hence, when able to attack, we must seem unable; when using our forces; we must seem inactive; when we are near, we must make the enemy believe we are far away; when far away, we must make him believe we are near.... If your opponent is choleric temper, seek to IRRITATE him. Pretend to be Weak, That he may grow ARROGANT.”
by Sun Tzu
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