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ES Journal - 2013
- Thread starter Trvlwanderer
- Start date
not a fib user so any comments appreciated,if you take the 1474 to 1343 move and do a fib extension,you drw from 1343-1474 and pull back to mid of 1408,click and it sets 1512 as a 78% extension,if we pull back to the 61 fib its 1490(in red)..if you assume 1512 the 78 fib was the top and draw retracemnets using the real high of 1514 and pull down to the 1398 low on dec 31,the 23fib is 1486(in blue) shopster, any fib users, is this how its done for a beginner
Quote from ammo:
not a fib user so any comments appreciated,if you take the 1474 to 1343 move and do a fib extension,you drw from 1343-1474 and pull back to mid of 1408,click and it sets 1512 as a 78% extension,if we pull back to the 61 fib its 1490(in red)..if you assume 1512 the 78 fib was the top and draw retracemnets using the real high of 1514 and pull down to the 1398 low on dec 31,the 23fib is 1486(in blue) shopster, any fib users, is this how its done for a beginner
I find 50%/100% extensions to be the ones to pay attention to consistently. As for the rest, it seems to be more of the draw-enough-lines-on-your-chart-and-you're-bound-to-hit-something variety.
I'm sure others will disagree.
L 1499.75