Why do you think Fibonacci Work? Problems with the Elliot Wave Theory

Why do you think Fibonacci Work? Problems with the Elliot Wave Theory. Steve Ruffley, day trader comments. Guys, please appreciate this guy is a day trader, meaning he holds and sells positions for very short periods and as such his methodology may be different to others. Well its the self-fulfilling nature of technical analysis. Bollinger bands work because they are the most obvious technical analysis tool - bollinger bands as such should be considered reference points. Fibonacci work because its present in nature, its been around forever. Fibonacci is proportions and principles; it is not some crazy mathematical secret. I hate the Elliot Wave because I believe it is all down to individual interpretation.

Steve Ruffley is also the chief market strategist at InterTrader http://www.financial-spread-betting.com/intertrader/intertrader.html and gives regular seminars.

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