Everybody's a skeptic of Fibonacci

I can give 10 reasons why, but the number 1 reason why is simply because they don't understand how to apply it.

Here is a chart of RAS.

Notice that the first retracement was breeched, then bounced off the 2nd retracement of 1.94ish. .02c off. I sold RAS at 1.88, before it hit the target of 1.94 (better safe than sorry). Notice that it bounced at 1.92. So how do you play RAS at this point??

Well do you see the flag building on a daily? If that holds up and it begins to pop over the pole of 1.92 and holds, your next target is 2.23, and depending on if that level is breeched heavily (note how it reacted at 1.53) you can assume it'll move to 2.52. I would sell in the 2.40s if it went there taking half off in the 2.20 area.
You have to play the breakouts on these things. You don't buy a flag, you buy when it takes out the previous high out.

And that ladies and gentlemen, is one technique of many in applying fibonacci.

If you have any questions, feel free to ask.