I'm starting this thread because I am aware there are several 1KT members that have an in-depth understanding of this way of analysing potential trades.

I'm also aware that many believe it is mumbo-jumbo, but suspect that is more to do with a lack of appreciation of all the factors which have to be thought about.

I also feel that this is a place where newbies can be led astray by the hype surrounding this tool, and hope 1KT members' input will reveal how to correctly employ Fibs to their charts.

At this point I will leave the door open before sticking my oar in, as I'm probably the least qualified to offer advice.

OK guys/gals, it is over to you.

P.S. I am looking for generic theories here, avoiding copyright problems for known trading methodologies.