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Many [and potential] foreign traders preferred the TokyoSE the
last months.
After a prolonged uptrend, the big boys [not the crowd !!]
decided to apply severe pressure [C]
The index was loosing -2% or -3% or -5% without any serious
resistance.
The tough question was the magnitude of the
correction.
Fibonacci buyers failed at all known levels.
Although my innovative research was not posted this period,
Oblique Fib traders would also fail
to catch the proper Buy level.
This failure sounds somehow descriptive now but it could cost
a lot of money, because
1. 0.382 [negative]
2. 0.500 [negative again]
3. 0.618 [the great secret for many silent traders, but,
negative again]
4. 0.786 [many traders leave "the others" buy at 0.618 and
come and buy everything at the tricky 0.786 but, the market is negative
again]
5. 1.000 [Well, there is no doubt we still have a bullish
environment, the market will react at this level, but, negative
again]
6. 1.618[the situation is serious now, buy at this level is
equivalent to a bank guarantee etc etc]
This is the most tragic case, IMO. These buyers still wait,
the market ignored their intension, the market
was not interested for the color of their money, if they still
want to buy let us take now a +2% and a +2.4%
and, if they forget these Fib stories, let them buy +5%
higher. If they do not agree, they will pay another +5%
3 days later, it is a free market, they may buy whenever they
want !!
Since it is a real story and not a
trade-fiction, I think I will never place an order at any Fib level,
horizontal
or [the new] oblique.
Dimitris Tsokakis
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