Why the Fibonacci numbers are sometimes useless?

Every Forex trader in online forex trading currency needs to have an idea of the analysis of the Fibonacci and the main level, which need to constantly monitor (50% and 61.8% levels). Charting the course of these levels, you will be able to understand on what prices you should target when there are fluctuations in prices.

Eg. If the fluctuation of prices was 1000 pip (from its lowest to the highest point), and the price began to go back down to their previous positions (500-pip), then you need to quickly close the position.

However, some traders prefer to wait until reaching the level of correction and open a new position in the direction of a new trend. In this case, the analysis of Fibonacci little can be useful. While there are many examples where, having reached 50% or 61.8% level, the price returns to the starting position, unfortunately, there are many examples where the price of ignoring these levels and passes them.

So, despite the fact that the Fibonacci numbers can serve as effective tools for identifying the points of exit their trades, these numbers are absolutely should not be relied upon if you are looking for an entry point to the current bid.