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5 sats \ 4 replies \ @south_korea_ln OP 8 Oct \ parent \ on: Sunflowers and Fibonacci: Models of Efficiency (2014) science
It's quite fascinating indeed.
Too bad TAs (you know, those guys drawing stupid lines on price graphs) have tried to pervert the meaning of Fibonacci numbers for crypto-bros~~
I can believe that they are trying to tie Fibonacci numbers into price graphs because prices move, many times, to Fibonacci gains or retraces at 33% and 66% levels before changing direction, again. People looking at futures and options use these figures extensively. Betimes, I have made money using these positions.
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Isn't it at best kinda like a self-fulfilling effect?
If enough people believe the price will follow these trends, their collective belief will make it happen...
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It could be, but the trick is to discern the movement before it gets too apparent to too many others, then get out just before the movement changes direction. I have to say that in many cases you are competing against front-running algorithms, which makes maximum gains almost impossible, because they get there first.
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Yeah... nothing for me, for sure. TA seems like too much time doing something unproductive... but I'm sure some people enjoy it and a select few make some money while doing so.
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