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----- Original Message -----
From: "James Fulton" <captech2@xxxxxxxx>
To: "Omega List" <omega-list@xxxxxxxxxx>
Sent: Thursday, 27 September, 2001 4:23 AM
Subject: Re: Fw: More On Fibonacci
> > Interesting stuff... But how does one apply this to trading?
> >
> > I do enjoy reading about all aspects of Fibonacci. If you can
> > ignore the religious fervor, you might enjoy this website:-
> > http://www.evolutionoftruth.com/div/fibomyst.htm
> >
> > But when it comes to trading, the Fibonacci habits of
> > rabbits are not of much use.. There are good Fibonacci
> > techniques, which provide a reliable trading tool, but don't
> > get lost in the poetry of Fibonacci..
> >
> > -Neal.
>
>
> I would just focus on confluence of fib levels and
> projection agreements off different primary swings. Don't stay long on
> entrys because it's self fulfilling but usually works in all time frames
> with confirming tools. Fib work along the time axis is of little use in my
> analysis............jimmy
>
Howdy,
While the holy grail hasn't passed before me, I beg to differ a little with
the use of Fib on time axis. I continually use it (looking after the fact)
on bars and sequential tick charts (just to see how stupidly 'fibonnaci' it
all is).
I don't have any thesis on it. So be a skeptic with my view, if you will,
but before you write off any consideration as to its function (or
by-product) with the time element, I suggest a long committed impartial
viewing of charts to digest different scenarios and probabilities.
My guess, as to why people in general may underscore the possibilities that
lie with Fibonacci is simply not having user friendly tools that are fast
and easy to operate unlike what I have seen with TS. (might be wrong here,
really don't know too many packages)
I use an Australian made package which has a drawing structure for
fibonacci, with two mouse 'dragable' lines; drag one to a point one the
x-axis and drag the other to a different point on the x-axis, then other
lines are projected (either forward or backward, pending the orientation of
the two) to fib multiples of the spacing between the two marker lines. A
similar structure works on the y-axis. These can be continually repositioned
or fixed. Simply and effect way to quickly check scenarios found.
Jon
Well it looks good seeing what happened in the past, but to project
tomorrows trade at 89min after the open........well havent got there yet!
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