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Example of how fibs can be utilized trading on the bonds on a 60min chart.
1. Rally off of the low at 97-06 from the 103-30 high stopped at 101-14.
The .618 retracement was 101-11.
2. ABC decline off the 101-14 pivot high using a 1.0 expansion projects
99-22. Low today 99-20.
3. The 50% retracement from the low at 97-22 to the high at 101-14 was
99-18. The low today 99-20 (2 and 3 would be confluence at or around 99-22
to 99-18).
The decline off the 103-30 high had multiple legs as well as did the rally
to 101-14 which is why I feel the analysis being shown are "not" how fibs
are traded (meaning single legs). Leaving EW out you don't just use any
pivot, pattern into highs and lows is important not just arbitrary frib
expansions and retracements. I am not sure this is programable or can be
put into a statististical analysis as some would want. Fact is these are
not after the fact numbers but ones considered in actual trading along with
other things, 101-11 was a prior gap area for example, confluence again?
don ewers
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