"If you saw a hot blonde would you walk up to her and say you have beautiful brown hair?" perhaps if I were color blind Joab, the problem is the shithawk posts that don't speak to the questions asked and so provide no useful information or assistance to others â to be found in many threads and why threads often degenerate into a 'bitch fest' I'd hoped by phrasing the original questions as I did it might yield positive posts while not a shithawk response you've written nothing about using fibos only provided a fatuous generality can we obtain something more specific from you on Your use of fibos ?
thanks traderdave72 for the offer, I'll be in touch later I used 'your' triangle and came up with a new Time tool, to be posted
apex82, well at least you replied this time â thanks I understand half the lines on your charts, maybe if you'd post a Daily chart it would go some way for me at least to see more of the fibos in context
TSOKAKIS TSOKAKIS TSOKAKIS it really isn't any clearer please explain your methodolog: "Since I always prefer the real examples, here is one." realise it's 'Your' interpretation statistics like other tools are only as good as applied as Goel points out, and as Prechter illustrates, the inherrent difficulty of working with Price data ISTM statistics are often used to prove a method hasn't been found rather than has and it's not the negative we're after but the positive, n'est-il pas ?
Well, it is not MY interpretation. I follow the international definitions, nothing more, nothing less. 1. A retracement is A price movement in the opposite direction of the previous trend as you may see in http://www.traders.com/Documentation/RESource_docs/Glossary/glossary_NS.html 2. We need a percentage n% to define the zig function and define the Peaks and Troughs. 3. Then the Peak1-to-Trough1 is the first movement and the Trough1-to-Peak2 is the very next movement. 4. The ratio is R=(p2-t1)/(p1-t1) and this is compared to the sequence of the Fibonacci numbers. If you deal with the Close price, then you put the Close peaks/troughs. You may also use the Average price, the High or the Low.** Then you apply common and elementary statistics : How many retracements in your time reference, say 10 years. How many Fib retracements. The percentage of the Fib retracements vs the number of the retracements. That is all. It is common, you may find it in any T/A page and IT IS NOT MY INTERPRETATION. **IN OUR CASE, THE USE THE C OR H OR L OR AVG IS IMMATERIAL , THE STATISTICS IS EQUALLY POOR AND FAR BELOW ANY PROFITABLE EXPECTATION.
thank you TSOKAKIS for explaining I looked at my Nasdaq chart, data from Yahoo/CSI and found: 1: your 6/5/1999 is incorrect, the L occurs on May 7/1999 2: your 16/10/2001 is correct 3: your 13/7/2001 is correct H July 2/01 2181.05 - L July 11/01 1934.67 = C July 13/01 2084.79 but there's virtually the same Retracement next to it not reported H July 2/01 2181.05 - L July 24/01 1939.28 = C Aug 2/01 2087.38 eyeballing the chart it's obvious Aug 2 is another 0.618, in fact to judge by the blue fibo it's the Aug 2 that's the hit not July 13 -- see attached so I've found 2 errors in your data, one of which increases the 0.618 hits by 25% ! how many additional undiscovered and unreported hits are there ?
Wallace while I agree with you ... why not just ask me for my bank account number and SSN as well as my date of birth. Sorry my friend but most profitable traders work for years to discover these secrets and were not just going to hand over the keys to the vault to you ! Figure it out on your own (with hard work) like the rest of us had to do .. I gave you enough of a clue in my last post to get you started.
since when fib levels became a secret? with the computational power available today i can test any fib level combination throughout any product, data aggregation and time frame within hours! i am sure that's no secret.
I will explain once again my charts. This is the last explanation, I do not want to write the same things again and again. I use Close as the main variable [black line] I use the zig function with 5% [yellow line] The retracements are plotted with the white line. 1. 6/5/1999 is correct 2. the retracement ratio for Aug2/2001 is 1.00 and not 0.618. One more thing : Your last phrase how many additional undiscovered and unreported hits are there ? does not include good will and makes the further discussion difficult. Personal comments are not interesting for the readers of the forum and I hope you agree.