re: fibb and gann G'day,My belief is that fibb and gann are...

re: fibb and gann G'day,

My belief is that fibb and gann are "self fulfilling prophesies" i.e. they work because they work. The more people that believe that a share will bottom at X then of course the chances are that it will because they will all start buying when it reaches X.

I love the fibonacci series but it doesnt magically cause prices to do anything at all. I guess if enough people believed that a share will always bottom at 73.49% of it's previous high then it well might.

I'm not rubbishing the fibb and gann followers - after all it does work some of the time. We all do whatever we can to squeeze profits out of the markets.