Registered: Sep 2008
06-01-12 04:34 AM
Quote from tihfa:
whats so special about 129?
Nothing really, but fibonacci users might see that a lot of fib lines overlap around that point, and since they believe in the power of seashells for trading, it should be a good place to buy. Remember, some people think price is magically drawn to fibonacci lines. If those people are right, price should go to around 129 and then reverse and go back up.
Of course, I cannot predict price so I have no idea where it's going or where it's going to reverse, but this will also just be a good place to buy more for my current strategy.
And I don't want anyone saying that I don't call my entries ahead of time!