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Still none of my posts showing up! Attached is chart into NY close. I think
this clearly demonstrates that fibs have value in trading ... price reversed
2-3 ticks above confluence in price and exactly on one of the two time
targets. This confluence of time, price and change in trend was fortuitous,
however one is not forced to take a trade when the picture is not clear.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: "Realtraders" <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, April 17, 2002 1:47 PM
Subject: Re: Fibo example
> None of posts have shown up .. here is confluence of time and price, buy
> order in 112375 limit
>
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: "Realtraders" <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, April 17, 2002 12:34 PM
> Subject: Re: Fibo example
>
>
> > First post has not shown up yet but thought I'd send along another. 38%
> time
> > retracement of the secondary low did not hold the low, now we have
> > confluence of the 38% primary time retracement and 62% secondary
> > retracement. Also a cluster of price targets in a 2 handle range. This
is
> > not the nice clean looking chart I like to work with but you work with
> what
> > you have.
> >
> > Earl
> >
> > ----- Original Message -----
> > From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > To: "Realtraders" <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Wednesday, April 17, 2002 11:29 AM
> > Subject: Fibo example
> >
> >
> > > Another fib chart in emini, this is 5 minute.
> > >
> > > a) major rally stopped 2 ticks short of the 68% retracement back to
the
> > > 1156.25
> > > pivot high.
> > >
> > > b) W.C stopped 2 ticks short of the 100% expansion where W.C = W.A.
This
> > > would be a minimal price correction.
> > >
> > > c) left vertical cyan line is the 38% time retracement of the rally
from
> > the
> > > 1102.50 secondary low, right cyan line is 38% time retracement of the
> > rally
> > > from the 1100 primary low. I do not consider a correction complete
until
> a
> > > minimum 38% time retracement has been met.
> > >
> > > d) heavy green lines at 1122.25 and 1121.25 are the 38% retracement
> levels
> > > measured from the primary and secondary lows ... I generally look for
a
> > 38%
> > > retracement level to be reached following a major price move.
> > >
> > > e) also shown is a retracement tool to measure the rally from the last
> low
> > > and so far, the 62% + 1 tick has contained the rally.
> > >
> > > Should retracement time, retracement price, and correction expansions
> come
> > > together in confluence, I would consider a long position with tight
stop
> > to
> > > have a very high probability of profit. As the chart evolves, I may
see
> > > other opportunities should the "ideal" not show up.
> > >
> > > Now, if some of the programming genius' here want to program this
stuff,
> > be
> > > my guest. At one time I was a programming maven, did a lot of work on
> this
> > > stuff, and never succeeded in getting close to the kind of eye and
hand
> > work
> > > I can do very quickly on a manual basis.
> > >
> > > Earl
> > >
> >
>
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