can you draw a picture of that? One thing I'm trying to get a handle on is how to target overshoots. Using the Dow for example. We failed to rally past the 50% retrace from the last big high to the recent low. SO, if the last low doesn't hold, do we get a Fib target for the next area down? IF so, what's the #? thx.
Some also use fibs on the horizontal axis (time). I have seen Jeff Cooper use this. Has anyone used fibs this way? Ed
I have a simple question re Fib lines. Once you have identified the relevant position of the lines (whether they be the 0.382, 0.618, etc.) how do you decide to go long or short once the security approaches those prices? Thanks.
I am tired of debating about Fibs, Gann, Elliott, or Natural Order stuff. So I won't. Look at it this way. I use Gann and Elliott, it works for me. I don't use ADX, CCI, MACD, and millions of other technical indicator, it doesn't work for me. Still, there are people who can make it work. I use other techniques and study other material too. There's no difference. It's just a matter of trading style.
I think what you might be referring to are called "fib extensions"... Carolyn Boroden does some excellent work with fibs over at tradingmarkets.com; you might want to check her out... She has a free trial and I am sure she can and will explain the "concept" of extensions very well for you... PEACE and good trading, Commisso
WD, I honestly belief that there is something to GANN - you have nothing to defend IMHO. I wish I had the time to put into it - I just don't at this point. I have looked at it in the past, but only with limited success... nitro
Nitro, I wasn't attacking or defending what you or anyone wrote. I wasn't offended, too. Thanks for consideration, though.