2023 Charts, page-1318

Thanks for your reply.

'But watch what happens to AGY price every time we dip below 30 RSI. This will make you eat your words tbh.'

I'm not a short term trader, so I still maintain lagging indicators are worthless IMO. I'm not eating any words mate, your chart again justifies what I'm talking about - all oversold levels you've circled (bar one or two), have done nothing for the overall trend of the chart. So using a lagging indicator (rsi, macd, stochs etc) is useless for an investor. If you're a short term trader and trading the pull-backs is for you, and using these lagging indicators works for you, I'm not going to sit here and say don't use them. Whatever makes you money. But using them to add to a confirmation of a bottom being near, you'll get it wrong 90% of the time (as confirmed in your image).

'Honestly, ive learnt over time that the proper use of Fibonnachi is a heap of shit. Nearly Every post i've seen that has used it in its proper way has turned out to be wrong. There's so many retracement levels that the probability of the price getting close to one of them is pretty high.'

I can agree with that - I'm fairly accurate with my analysis most of the time without any fancy lines, which is why I don't use any of them. Price action is king.

IMO only of course.