Fibs were there as was Elliott, Gann and many other TA techniques.
A hammer is useless to someone with no arms.
Fibonacci techniques are numerous, unfortunately most are only aware of the standard retrace and extension scales.
Fibs work on any time scale and any price scale. They can be simplistic and highly advanced.
Show me an indicator that can nail the all ords close within a cent and on the day 3 months in advance?
Most new to TA get drawn into the myth that TA=indicators. It generally takes 3 to 5 years for most to realize that they are mostly worthless and should only ever be used to confirm what you already know from raw analysis.
