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Hi Group,
Last week I remember a post which complained that Metastock does not
have the tool to plot a Fibonacci Projection.
I normally use the std Fibo tool to draw the projection by eyeballing
the chart.
1) First I draw the Fibo lines from major low/high.
2) Then I right click the Fib Lines,
3) Change the parameters in the "retracement properties" tab.
4) Add 78.6% retracement value.
5) Drag the handle so that the 78.6% line aligns with the FIRST
top/bottom of the pivot.
6) It road-maps the next possible support and resistance levels, and
also give me a ball park projection level.
I hope this helps. Any q's are most welcome.
Dusant
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