|
PureBytes Links
Trading Reference Links
|
in log scale charts
say u draw a retracement from level 200 to 100 in a stock.
drag the top of retracement to 100.... now the lower side is at 50 not at 0
if it was
thus its not a point move... its a % move.
now draw the extension tool from 200 to 100 and place it at 100..
the 100% target comes at 0..!! and not at 50.
in el wave concepts.. % move is all important.
thus while the retracement tool works fine..
the extension tool is not giving same results.
its ok when the net price move is small..
as price moves get very large the extension tool starts to diverge.
I hope this can get rectified or new option added in extension tool to
facilitate targets in % moves and point moves.
i hope the mail is clear.
if not, shall write again.
rajeev
On 6/19/06, Rakesh Sahgal <rakeshsahgal@xxxxxxxxx> wrote:
>
> Hello,
>
> Be it the Retrace draw tool or the Extension draw tool, they give their
> calculations for fib levels based on difference between Pivot A and Pivot B.
> In the plain vanilla fib tool these are drawn between the two pivots A and
> B, whereas in the extension tool it is drawn from point C. To be doubly sure
> I drew the both the retrace and extension and copied them and then tried to
> paste them on different pivot sets. They reflected the distance between the
> new pivot sets, as they should. Care to elaborate how to copy fib drawings
> and paste them on a diff pivot set without the pivot distance and
> consequently fib levels changing ??
>
>
> R
>
>
>
> On 6/19/06, ^RajeevMundra^ <rajeevmundra@xxxxxxxxx> wrote:
> >
> > details in atatched image
> > if i missed something or didnot understand, then kindly let me know.
> >
> >
|