Very good to all! I just found this site and I have to say WOW! What an amazing resource for those we are starting at Forex! While looking for some system to test, I was reading about the "Vegas Tunnel" and I came up with a question that I hope someone can solve: how exactly do the Fibonacci numbers that are mentioned apply (the "interest numbers" 55, 89, 144, 233 and 377
Thank you for responding eastmeals! I reviewed the posts you indicated, but I still didn’t fully understand how those numbers were applied to the chart. I reread the Vegas Tunnel system and worked with the examples it shows. I realized that those numbers are directly related to PIPS, not to support/resistance zones as I thought (i.e. not with typical ratios)
I think those Fibonacci numbers have nothing to do with ratios like 61.8%. They're just fixed levels that trace a certain amount of pips up and down the 28-period mobile exponential mean, using Fibonacci numbers as distance.
The basis of the Fibonacci sequence is that each new number is obtained by adding the two above. Fibonacci started with two ones: 1, 1 Then: 1 + 1 = 2 ? 1, 1, 2 2 + 1 = 3 ? 1, 1, 2, 3 And as follows: 5, 8, 13, 21, 34, 55, 89, 144, 233, 377... These numbers are then applied as pips added or subtracted to a mobile average (for example: MA +144 pips, MA -144 pips
Thank you all! I begin to see the bottom of the puddle, at least a little bit... I have also been reading the dedicated giant thread (primarily
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