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DRAW ENOUGH LINES ON A CHART AND THE MARKET WILL ALWAYS HIT ONE OF THEM.
> -----Original Message-----
> From: bondo92677 [mailto:bruce.larson@xxxxxxxxxxxxx]
> Sent: Friday, April 12, 2002 9:27 AM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: Re: [RT] random price moves in ES?
>
>
> I like fib levels. SPX bounced off 1111 Monday which was a fib level
> of 1074-1174. NDX bounced off 1330 which was a fib level off 1734-
> 1088. What drives me crazy are all the MurreyMath levels. The MM
> guys swear they work but they have them every 2 pts!
>
>
>
> --- In realtraders@xxxx, Neal Hughes <neal@xxxx> wrote:
> >
> > Yes! Placing an entry right at a Fib just because it is a fib is not
> > wise..
> >
> > I expect price to stretch a bit beyond a Fib level, that how the
> > markets work..
> >
> > -Neal.
> >
> > At 11:56 AM 4/11/2002 -0600, you wrote:
> > >"Given the large number of traders who use them" is a good part of
> the key
> > >here because trade entries and exits are clustered near fibs. I
> will add
> > >that I _never_ place an entry or exit on a fib ... I always fade
> it because
> > >I know other traders fade the fibs and I don't want to be
> faded ... this
> > >means that prices will generally not stop exactly on a fib.
> > >
> > >Bottom line is that I want to know what other traders are looking
> at so I
> > >would have to plot fibs even if I did not believe in them.
> Obviously, I do
> > >believe in them as I have used them for over 15 years ... the
> single tool
> > >which I have never discarded through all of my research and trials.
> > >
> > >Earl
> > >
> > >----- Original Message -----
> > >From: "ztrader" <ztrader@xxxx>
> > >To: <realtraders@xxxx>
> > >Sent: Wednesday, April 10, 2002 10:31 PM
> > >Subject: Re[4]: [RT] random price moves in ES?
> > >
> > >
> > > > I would think that the mathematical characteristics of Fib
> > > > retracements might be of great interest to traders, given the
> large
> > > > number of traders who use them. There are many places where the
> fibs
> > > > are derived, with connections to geometry, etc. This is just
> one more
> > > > part of the picture, and might be of equal or greater value to
> traders
> > > > than the simpler characteristics.
> > > >
> > > > If I'm the only one who can see how this is of value, though,
> I'd be
> > > > quite happy to drop it - I don't want to bore the list. Is that
> what
> > > > you are suggesting?
> > >
> > >
> > >
> > >To unsubscribe from this group, send an email to:
> > >realtraders-unsubscribe@xxxx
> > >
> > >
> > >
> > >Your use of Yahoo! Groups is subject to
> http://docs.yahoo.com/info/terms/
>
>
>
> To unsubscribe from this group, send an email to:
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>
>
>
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>
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