Fibonacci Question

[mgabriel01]

What is the best way to determine the high and low values on which to base fibonacci retraces

on a downtrend -- Low to Low, Open to Close, High to High
or does it even matter?

 

[cashmoney69]

yes it does matter, and as price moves, and makes new lows and highs, the fibs need to be adjusted.

 

[mgabriel01]

Quote from cashmoney69:

yes it does matter, and as price moves, and makes new lows and highs, the fibs need to be adjusted.

thanks
so on the uptrend lo>hi
on the downtrend hi>lo

 

[newtoet]

There are more ways to plot Fib lines than there are failed stock traders!

Trader-X blogs about Fibs...here is a recent post about what highs and lows to use:

http://traderx.blogspot.com/2008/10/fibonacci-lines-indicators-and-holy.html