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Later today or Sunday I will post some updated charts from Fibonacci Trader
with the Fib zones and a few of the unique indicators. I also will try to
duplicate the GannSwing chart and see how it compares to John Boggio's
outstanding swing call of the last few days. So far my conclusion is this
software should be on the Realtraders group buying discount list on the
website. How about it John and Eddie?
BobR
At 06:19 AM 11/15/97 -0500, Walt Downs wrote:
>MRLYNNG@xxxxxxx wrote:
>>
>> In a message dated 97-11-13 13:59:42 EST, you write:
>>
>> << Interesting to note here, that all 3 failures came when the stated
>> Fib levels went against market statistical probabilites. >>
>> Walt:
>> Can you explain what you mean by this. It is not clear.
>> Lynn
>
>Lynn,
>
>Sorry. :)
>
>What I was referring to was the relationship between
>various classical market patterns (triangles, Head and Shoulders,
>wedges, channels etc. ) when used in conjunction with statistical
>probabilities of a pattern's success under particular market conditions.
>
>There are also short-term statistical set-ups that might consist of
>only one or two bars.
>
>The patterns are basically a reference point for the statistical
>analysis. It's really more about "recognition", than about patterns
>per se. One man's wedge, is another man's 5th Elliot wave...etc.
>
>If you have a situation that historically has produced a particular
>reaction from the underlying market 70% of the time, you can assume
>some directional bias based on that.
>
>Walt Downs
>CIS Trading
>
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