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Just a thought, but have you looked at pivot, support/resistance levels.
(i.e. pivot point = (high + low + close)/3, etc.) My understanding of pivot
points/support/resistance levels is that it is an approach that was
developed by floor traders that enabled one to look at a quick "cheat sheet"
or memorize all of the levels (based on the prior day's/week's, etc.) for
their trading. It might be worth a look, if you have tried all of the other
retracement approaches.
Ed
----- Original Message -----
From: Henry R. Heiczereder <heicz@xxxxxxxxx>
To: Real Traders <realtraders@xxxxxxxxxxxx>
Sent: Monday, October 11, 1999 6:20 PM
Subject: Re: Web Trading; Not WWW
> A few years ago before anyone was doing anything with the internet I met a
> futures trader(apparantly a successful one) who gave me some charts to
look
> at with buy and sell lines on the charts which indicated where positions
> were taken. He said that these levels were part of a technique called
'Web
> Trading'. This is not a reference to the web trading by way of the
internet
> but a trading method built on buying and selling at certain levels. I
> studied the charts including doing retracement ratios, fibonacci numbers,
> quarters, halves, eights etc. but could not find anything consistent. Has
> anyone heard of this type of trading?
>
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