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Neal,
I see that you have used the .618 expansion point in your examples. Are you
saying that the .618 expansion is more accurate than the 1.0 and 1.618?
Andrew
----- Original Message -----
From: Neal Hughes
To: realtraders@xxxxxxxxxxxxxxx
Sent: Friday, April 19, 2002 10:19 AM
Subject: Re: [RT] Programming Fibs
Attached are 3 fib expansions the way I do them. Very accurate this way. In
my opinion
it's the only way...
3 expansions in 2 gifs.
-Neal.
At 01:30 PM 4/18/2002 -0400, you wrote:
Neal Hughes wrote:
Fibs work extremely well! But in the right context. They are
amazingly accurate sometimes.
Look at this accuracy from a trade this morning on the 1 minute mini Nasdaq.
Price retraced exactly to the 38.2% level. A 61.8% stop (plus a tick) gave a
comfortable 4 point stop.
My projections look really accurate, but they are extended from the pivot
low, and not the more common pivot high of the rally. Which brings me to a
question that I have. I'm not a great user of Fib expansions, as I use other
means to exit and have never taken enough time to test them. There are
several ways to use Fib expansions that I have seen:
1. Drawn from points A-B and projecting in the continuing direction
2. Drawn from the high ( for a buy) of the corrective rally
and for a total reversal,
3. Drawn from A-B and projecting in the reverse direction to the initial
move.
I've seen all these methods used at one time or another, and wonder what
other traders' experiences might have been.
Andrew
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