Adam Grimes has completely debunked any empirical evidence that the Fib ratios are any more areas of retracement than any other ratio or price point. He has done literally thousands of back dated Algo testing and found the application of Fib analysis to be completely without foundation in charting. His leading question as he began his testing was " why do Fib ratio believers use the 50% when 50% is not a Fib ratio?". After that it is all downhill for believers in this method.
His findings have been accepted since about 2015 and anyone who doubts it is in a serious vacuum.
He states "chartists who do see some relationship are tending to "anchor" their belief on some successful trades whilst ignoring the failures."
Adam Grimes is the author of " The Art and Science of Trading" and anyone who at least refuses to read it and relies on what is little more than unfounded and unproven methods is doomed to fail. ( Or post ad infinitum how successful they are -- my words)
New TA/Charting, page-4441
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Last
$1.25 |
Change
0.025(2.04%) |
Mkt cap ! $3.018B | |||
| Open | High | Low | Value | Volume |
| $1.24 | $1.26 | $1.23 | $5.680M | 4.548M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 50 | 75347 | $1.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.25 | 80145 | 40 |
View Market Depth
| Last trade - 14.25pm 06/05/2024 (20 minute delay) ? |
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Last
$1.25 |
Change
0.025 ( 1.58 %) |
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| Open | High | Low | Volume | ||
| $1.24 | $1.26 | $1.23 | 1516186 | ||
| Last updated 14.45pm 06/05/2024 ? | |||||
| LTR (ASX) Chart |