Maybe Gann/Fibb #'s Work???

Discussion in 'Trading' started by ddefina, Oct 1, 2002.

  1. m_c_a98

    m_c_a98

    Yeah, I've paid attention to all of them in the past, but I personally believe they don't work. At least for me. 50% and full retracement are sort of interesting to me.
     
    #11     Oct 1, 2002
  2. Most people feel the same way as you. I know I have posted this before, but fib commonalities or congruences DO work.

    For example, in an up move, after price pulls back, try to find a .382 and a .618 within a very short distance of each other - in the S&Ps it is within one point. In these instances you have to use a common high. You should see a bounce here going back up. Because today was such a strong up day and the pull backs were very shallow, there wasn't a really good example of this.

    The .382/.618 do work in combination with each other. This combination works better than any other I have seen. In my opinion, the 50% number that some people look at isn't as reliable, nor is the .786. But keep in mind, you do have to use a combination. Just buying or selling at a .618 will eventually get you killed, especially if this is the only you are basing your buying/selling decisions on.
     
    #12     Oct 1, 2002