um, that was a lot of posts in a row, elit5314.
It looks like your found a stock that was trading within a horizontal range and then put fib lines over top of it which isn't what I'm talking about in this thread.
You also had some reversals at random fib lines, such as at 78.6% in this pic:
http://www.sierrachart.com/userimages/upload_2/1267531805_95_UploadImage.png
Which is also not what I was talking about.
*sigh*
You can't post pictures where prices happened to reverse at
one of the fib lines and then say
on look, fibs work! That's exactly what fib "gurus" do and we've already established they don't know what they're talking about.
You had no idea ahead of time that price was going to reverse at the 78.6% line, so your entire chart and commentary is invalid.
Once again, for everyone reading this thread:
Fib "gurus" will post pictures like the ones elit5314 did and say "look, price reversed at these lines! Fibs are magic and they work!!!" Yet beforehad there is no way they could've possibly known
which fib line price would reverse at,
if any at all.
What I am talking about in this thread does require any of that crap because it doesn't even matter. I don't claim to predict which line it will reverse at, nor do I care, because as long as price reverses
at one of them (or even somewhere else), I will make money.
