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Perhaps you can be more specific as to time frame and what you see as failures.
Generally, I find that fibs work poorly on short duration charts e.g. 5 min and
better on longer duration charts e.g. 30 min, daily, weekly. 5 min seems to be
too close to the pit noise. Also, fibs are points at which I watch for the
market to change momentum, however there is no rule which says the market must
stop at a fib. Fibs work exceedingly well, however I have yet to find a market
tool which issues guarantees <g>. I use fibs on the indexes, currencies and
tropicals.
Earl
-----Original Message-----
From: Tullman, Mitch <MitchT@xxxxxxx>
To: 'REALTRADERS@xxxxxxxxxxxxxx' <REALTRADERS@xxxxxxxxxxxxxx>
Date: Monday, June 08, 1998 12:51 PM
Subject: fibonnaci in SPU's
> Does anyone have any thought on a good filter for
>fib retracements in SPUs?? I have at least 2 times /day that
>we just blow thru the supp/resis.
>
> thanks, Mitch
>
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