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# If you use fibs, reply

Discussion in 'Technical Analysis' started by cashmoney69, Jun 22, 2006.

1. ### cashmoney69

Where do I calculate the

23.6 %
38.2%
50%
61.8%
100% levels?

for example on a daily chart, I'll look at the very bottom

and say, "Ok, in 3 months the stock was at a low of 48.69 (best

buy 3 months)" then I start my calculations from there

23.6% of 48.69 = 11.49

11.49 + 42.15 = 60.18

in a 3 month period, Best Buy didn't even go up that high.

Highest was 59.50. 50% would be 73.03 dollars a share, and

the last time BBY hit that price was last year.

I dont think I'm doing this right, can someone help me please.

- nathan

3. ### lwlee

You need to establish a high and low point for fibs.

A lot of traders will set the fib levels from a low point to a high point and then determine at what fib level they think the retracement will stop.

4. ### gnome

Most charting software has a tool to graphically indicate Fibs. Read the instructions and do a couple of examples. It will then be clear to you.