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>From Dan's keepers directory.
Dan
>From: "Ed Kasanjian" <ed@xxxxxxxxxxxxxxxxxxxxx>
>Reply-To: realtraders@xxxxxxxxxxx
>To: <realtraders@xxxxxxxxxxx>
>Subject: [RT] Fibo Retracements
>Date: Mon, 30 Oct 2000 15:57:27 -0800
>
>Here are the results of a study I did regarding price retracements. It
>takes into account 2320 stocks, which were selected from the universe of
>all
>stocks with the following criteria: 50 day average volume above 100,000
>shares and price above $10. Every stock was searched for a specific
>pattern
>during the 1-year period mid Oct 1999 to mid Oct 2000.
>
>The pattern searched was a simple swing up followed be a retracement
>meeting
>a specific target as described below. Following the retracement is another
>swing up to at least the high established with the initial swing up. Data
>used was daily data from TC2000 and all calculations were done using
>intraday highs and lows.
>
>There are 7 retracement levels that were searched. These levels are 38%,
>42%, 46%, 50%, 54%, 58%, 62%. For each level there is a 1% margin of
>error.
>Using 50% as an example, this means the stock retraced anywhere between 49%
>to 51% of the prior swing up.
>
>The numbers below indicate the number of patterns that were found for each
>level of retracement. For example, out of the 2300 stocks there were 223
>patterns found that retraced 46% of the prior swing up before moving on to
>recovery highs.
>
>38% 186
>42% 211
>46% 223
>50% 259
>54% 248
>58% 241
>62% 256
>
>Profitable trading,
>
>Ed Kasanjian
>www.kasanjianresearch.com
>
>
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