Chickenspicy wrote: Sat Jul 01, 2023 5:38 pm
Could we say this a fibonacci inside of a fibonacci inside of a fibonacci?
That is an interesting thought and probably a desire across all "technical" trading. But if you read the Orbit books and understand what is said you will see that such a search as you propose is a waste of time in terms of a market solution. The Fibonacci sequence is a recursive equation yes like price, and like price an iterate. But it has a far more complex structure than price as a formulation; as you need 2 seeds to get it going but the structure of price as a recurrence relation while similar to Fibonacci needs just a single seed to get going. Thus it is really of little use in trading and to the extent it is useful in trading we use it in the MRI. In fact as a line on a chart I think Pit Trader Pivots are far more useful and accurate since they are chaotic. Just a thought.
The Crow (-_-)