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You have to go further with the fib retracements and expansions because
trading with fibs involves running projections on the available pivot
combinations and looking for confluence. Confluence increases the
probabilities for the trader.
Earl
----- Original Message -----
From: "wavemechanic" <wd78@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, April 10, 2002 6:54 PM
Subject: Re: Re[2]: [RT] random price moves in ES?
ZT:
I seems to me if you had a small army of RTers that would feed info to you
eventually a statistically valid evaluation would emerge. However, before
starting down that road, I think it is necessary to define what a "hit" is.
In other words, touch a Fibonacci level +/- ??? 0%, 1%, etc. It is
probably also necessary to define the type of level ( retracement,
extension, APPs) as the statistics might be a function of type. Then one
could start collecting data. Of course, if one is going to go down this
road, might as well throw in the Square of 9 levels +/- ???. As well as the
other flavors that are floating around. I suppose all one has to do is
develop a spreadsheet with all the type defined and their "hit" range.
Input the high/low and out pops the answer as to which "flavor" got hit.
So, are you going to work up the spreadsheet? If so, you could share with
all that want to participate and in a relatively short time the answer(s)
will be available.
Bill
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