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OK traders, let's see how you answer this one..
-Neal.
At 03:44 PM 2/27/2001 +0000, you wrote:
>I would like to be sure I'm using Fib Nodes accurately. To do this,
>I would like to use HGSI as an example.
>
>On 1/24/00, a max price of $241.00 was reached. By 2/21/01, the
>price had reached a low of $40.00. The stock still appears to be in
>a downtrend.
>
>To use Fib Nodes properly, do I use the current low of $40.00 as my
>focus number, and evaluate the reaction highs going back to the
>maximum price of $241.00 on 1/24/00? If I do this, I am able to
>calculate resistance numbers, but a new reaction low is likely to
>be made on a regular basis.
>
>Or, do I use the high of $241.00 on 1/24/00 as a focus number, and
>work back in time toward 1995, evaluating the raction lows? This
>approach would seem to be of less value, since it provides support
>numbers, and I am more interested in resistance numbers.
>
>I appreciate the help anyone is able to provide.
>
>
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>
>
>
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---
DiNapoli Fibonacci techniques -
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