it seems as if the fib retracements are basically useless to detect an intraday emini trend...here's why...you get your % values and what if it never "retraces" but only trends higher or lower...totally worthless...OR...please help me understand what part of the "fib emini" equation I might be missing in that it...in fact...does identify a trend for the eminis...
Fib levels are used to identify levels of Support and Resistance and are often levels of congestion. You are really a bonehead! http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators
'it's a poor workman who blames his tools' your statement is basically correct but then fibos are a measuring tool not a trend identifier my trend identifiers are EW/Price/Time and Standard Error Channels perhaps my 'fibos.pdf' will assist: http://www.elitetrader.com/vb/showthread.php?s=&postid=1540561#post1540561