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Good question!
Random lines will be just as good if you do not
know what you are doing.
A MACD or Stochastic instead, will be just as good if you
do not know what you are doing.
But add some knowledge, and Fibonacci is a dynamite tool.
If all you had to do was draw some lines, everyone would do it..
No, it takes some effort, skill. It requires that one become a
real trader..
I combine Fibonacci with other indicators, to give me an edge.
In addition, I use Fibonacci over multiple time-frames simultaneously
to find probable turning points.
Until next Tuesday, I'm traveling, will not be reading email much..
Best wishes,
-Neal.
At 05:29 AM 4/10/2002 -0700, you wrote:
>On Wednesday, April 10, 2002, 4:46:58 AM, Jim White wrote:
>
>JW> the ground rules for the test,
>
>As a start, draw Fib lines on price charts. Draw random lines on the
>same charts. Do the Fib lines have a higher probability of predicting
>turning points than do random lines?
>
>ztrader
>
>
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