If you use fibs, reply

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

  1. Where do I calculate the

    23.6 %
    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
  2. RAF618


  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. 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.
  5. humble1


  6. Trader-X blog has a spreadsheet he will send you. Just plug in the high and low. Or, you can make your own.

    Look under his welcome post "request Excel spreadsheet".