An Illustration of the Wonders of Fibonacci Retracements and Extensions.... German30 (DAX) Daily Chart:

If you find the right swing to measure Fibonacci retracements and extensions, you have found yourself a goldmine. Once you have drawn it correctly, it will keep guiding your trading direction and decisions for many months to come.... I find the topic intriguing, interesting and rewarding.... Hopefully in the coming days and weeks, I will try to share some insights and my experience of using Fibonacci for long term trading..... Hope to learn from other contributors as well....