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On Saturday, April 13, 2002, 1:13:44 PM, Clyde Lee wrote:
CL> What does it take to prove that Fib numbers have no validity in
CL> estimating where prices might make a turn.
As I mentioned before (but has not been addressed well so far), it is
this 'turn' which becomes a bit more involved. To make it a bit more
definitive, one must consider a 'continuum' of pivots. To just touch
on this briefly, let me modify your example just a bit.
b
/ \
/ \|^
/ \
a |_\
\
c
Your excellent analysis would ignore the small 'glitches' shown above,
but this *might* be just the kind of clue the Fibo folks are talking
about. Also, some short-term traders might make money on it too. :-)
I believe it's a bit more complicated than what the similar-size-swing
analysis would indicate. (Given your great programming skills, though,
I might expect to see some of this soon.) :-))
Anyone have thoughts on this?
ztrader
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