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Of course, if enuf fund managers with some moolah to push around believe in
Fibs, well then...
FWIW, while daytrading, the only Fib projection I ever found remotely useful
was off the previous day's close. If that happened to also line up with
either a multiple of 2NTU's (~3%) off the open, or a 200 SMA or whatever,
then you could see a reversal, or consolidation, no matter how brief, and
that was helpful for entries, particularly shorts ;~)
Off major "swings" or MSL or MSH, the multiple of 2NTU's often worked much
better than Fibs. Again, just my observation.
Best regards,
Gene Pope
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