OK, yes I just saw Kung Fu Panda, or "Panda Fu" as my little four year old buddie calls it.

And Fibonacci is awesome, but I realize that because this tools it oh-so-very subjective that many people dismiss it.  NOT because they think it doesn’t yield insightful analysis but because it’s just so frustration as you are first learning how to use it.

I learned about 50% Retracements first and used that exclusively for a while. (hey remember I was doing charts by hand when I first started trading so they were just easy to find!) I later got more involved in the entire series once technology helped out with the heavy lifting.  I use quite a few levels and I talk about them in this video.  In fact I even discussed setting these up during my latest online gig with IBFX.

I also used Fibo in my previous post of on the chart of the AUD/USD and received quite a few emails regarding it so I wanted to share a  quick intro;  it’s a beginning.  Fibonacci is amongst my favorite analysis tools - probably second only to my Wave - and I hope to discuss Fibos more here at the Chartology blog.

- Raghee