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<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
ztrader
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Saturday, April 13, 2002 1:52
PM
Subject: Re[6]: [RT] random price moves
in ES?
On Thursday, April 11, 2002, 9:12:09 PM, Neal Hughes wrote:NH>
Yes! Placing an entry right at a Fib just because it is a fib isNH> not
wise..NH> I expect price to stretch a bit beyond a Fib level, that
how theNH> markets work..
Yes, all "lines" (fibo, So9,
trendlines) are "thick" lines.An interesting
note. What I originally proposed is to identify'turn-arounds' and see if
they are more likely to occur at Fib levels.You also seem to be saying is
that there is a need to confirm the'turn' before you consider it to be
valid.I deliberately left the issue of 'turn-arounds' rather
vague,preferring to concentrate initially on the Fibs themselves. I
didmention that the the swings will turn out to be the most
importantissue, though.These 'turn-arounds' are really smaller
swings that may, or may not,be tradable but do indicate an effect of the
Fib lines.One reason for separating the math from the trading is that
the mathview has the characteristics of these small pivots as a
continuum,whereas the trading view makes a sharp distinction at some
'arbitrary'value, which may be different for different traders. This mixes
in anunnecessary restriction on the math analysis. Once the math analysis
isdone, we will have the results for *all* traders - a particular
traderonly needs to select the pivot characteristics s/he is
comfortablewith.Back to the pivots. Are you really saying, in
effect, that you need aturn around of a certain size, occurring at a Fib,
to act?ztrader------------------------ Yahoo! Groups
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