Nifty's tryst with Fibonacci

As I started my journey on TA, came across many chartists, who seem to be ever consumed by 'catching the tops/bottoms'. Soon I realized, they are idiots, yes idiots. I don't need to name anyone, markets have proved them as one, they themselves know, who they are.

I too have made many mistakes, I still make but I do try and make an effort to rectify and get over it ASAP. Yup, its easier said than done, but please never stop putting the effort rather trying to be 'mainebolatha.com'

Before going forward, let me tell you, I am a big fan of Fibonacci, helps me to evaluate things as intended by nature, through is mystic laws.

As you might be aware, Fibonacci has various ratios, which can be plotted on charts. We use these ratio's to get an idea about the depth of fall/rise of an instrument.

As the instrument retraces, being a bull, it's hoped that the fall would halt at a shorter ratio rather going at a deep one. In Fibonacci, 50% is not a ratio as per series but represents DOW theory. If an instrument halts the fall at 50% and resumes the up move, its considered quite bullish.

Here are few charts, where I try to understand things as they happened in past and what we can draw for the future. They all are NIFTY weekly charts.

Chart 1: A big up move from 2004-2008 and then the fall which went all the way to 78.6% (Global Meltdown)

Chart 2: Big move from 2009-2010 and then the fall, but this time it stopped close to 50% and resumed the up move.

Chart 3: Big up move from 2011-2015 and the fall which again got arrested at 50% and resumed its up move.

Chart 4: Up move from Mar, 2016-Sep, 2016 and comes the fall, again stopping at 50% and resuming up move.

Chart 5: A BIG up move from Dec-2016-Feb2018 (from demonetization till present times) and a fall, interestingly, I see many guys calling this fall bottoming out, but is it if we get any clue from the past?

Combined chart of all the above ones

For myself, I am not interested in:

~Hearing those 'top/bottom catchers' it's just an ego massage.
~'Buy the dips' screamers, only to see another dip if it's in cards.
~'Bhakts' who are blind and have a loud mouth.
Markets shut everyone.
~People who give 'n' examples as to how a marquee investor made 10x/100x/1000x from his holdings. Please don't preach how to be an ape, rather cultivate what's best for you.
~People who carry an opinion, on every/any damn topic related to markets especially.

I never understood, what's the shame in saying/accepting 'I don't know'. It opens the door to understand/learn something new, rather being 'I know all, fool'I don't know, where this fall shall stop and I don't want to speculate either. I care a damn if people say, corporate earnings are improving, various data is pointing towards rosy things and so on.

They have their arguments, I have a simple question for them, 'Are you more informed/intelligent than markets?' If the answer is yes, I have nothing to say, other than wishing them good luck.

All I have learned so far, markets know all, markets know best.