What does everyone think of Fibonacci patterns in pricing? Can they reliably predict future prices? Maybe I'm missing something but they seem like the astrology of the financial world. Am I wrong?
I've seen a lot of videos on YouTube by Chris Vermulen and he says that "Fibonacci is in everything" and then predicts market moves based on it. His most recent videos he is calling for a market crash. Some others agree with him, others do not.