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On Tuesday, April 16, 2002, 8:57:45 AM, Earl Adamy wrote:
EA> Bottom line, fibs don't forecast the pivots but do tell me where
EA> to watch for pivots.
I think 'forecast' is perhaps too strong a word, and loaded with other
implications in trading terms. :-) I prefer the more neutral
'probability'. One could ask if it seems as though there is a higher
probability of finding a pivot near a fib than at other places.
EA> When momentum changes at a confluence of fibs, the odds of a turn
EA> are high.
This contains multiple factors, and, although true, muddles the
analysis. Is there a way to describe the contribution of *just* the
fibs to the above? For example, suppose you had a momentum change and
just one fib? Or no fib, just momentum? Or just two fibs with no
momentum? Is it possible to describe the relative contribution of each
factor?
Thanks for the example.
ztrader
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