Fibonacci Retracements

I've been reading about fibonacci retracements and the fibonacciqueen.com website. I'm just learning but, it seems odd that Gary uses the fib numbers 233,55,21, etc but, doesn't mention using retracements. Maybe that's because they don't work. Anybody have any experience on retracements?

I do not do Fib Retrace at all but I do use the regression line for ocean tide up or down. Going up I use it from lowest point on bollinger band to candle close on daily...or on 55 from lowest point on bolling band to highest point after the market close. I do the opposite for going down ie. from highest point on bollinger band to close on daily or highest point on bollinger band on 55 to lowest point at the close of the market.

I do not use Fib at all because they are in Gary's charts...why use them? To me they will only "freak you out"!



Edited 1 time(s). Last edit at 11/29/2012 06:31PM by Darcy.

What's funny is I was just listening to one of the cd's. I believe it was one of the Denny's tapes. Somebody asked him abouot fib retracements and drawing on the candles and not the wicks. I thought, that was never in my cd before!