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Another "interesting" even if you can't use it to trade off.
The key issue here is the Regression line from the all time high till
today. This is displayed on the chart.
Now what's really interesting to me are the standard deviation bands which
are displayed by the Dynamic trader Program.
I have choosen the fibonnacci ratios 0,618, 1.618 and 2,618 + 0,786 (square
root 0,618) and 1,272 (square root 1,618)
If you look closely, you will find that almost every important top since
the alltime high have met resistance at a fib ratio or the square root of
one!
The same for support. (like presently)
We have known that fib relations often generates support and resistance,
but how come it also does so when we are using a regression line as the
base for our calculations????
And how come the triangle, which is constructed of Gann lines fromthe most
important tops and bottoms of the last 25 years, look so regular and why
are we seemingly being poured out of the apex of that triangle?
Which also by the way is the all important 78.6% retracement level of the
bullmarket to the all time high?
Any good answers??
I don't have one.
Stig
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