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The
issue with fibs is that a retracement will likely stop at a fib level but which
one. I have found some success at drawing a gann fan or box from the pivot and
very often one of the lines will go right though one of the fib levels. More
often then not that seems to be the level where we get a turn. I also have had
luck at finding the confluence of multiple fibs as good
support.
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size=2>
I am
trying to improve a way to better track these confluence points and am just
starting to consider building a simple spread sheet to track the fib levels from
multiple swings and compile the confluence points. Has anyone else done this and
have a spread sheet that they would be willing to share with the
group.
<FONT face=Tahoma
size=2>-----Original Message-----From: rjv
[mailto:rjv@xxxxxxxxxx]Sent: Thursday, April 11, 2002 1:04
AMTo: RealTradersSubject: [RT]
ztraderSince the RT list is about trading, which I
would assume includesmethodologies, then fib relationships should be a
valid discussion. Ifor one use them as a major tool and would be very
happy to see howothers may use these relationships in all their forms as
applied to bothprice and time. So, even if it's just you and I, ztrader, I
think we canconverse on the subject.Ralph.To
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