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Thursday, October 09, 2008

Nailing the Fibonacci extension...

I love when people tell me Technical Analysis doesn't work, or when I read it in an article or hear it from a talking head on television.

Fibonacci? What the hell is that?



richard said...

I totally agree,

Look anywhere you like and you'll find phi or the golden ratio 1.618. Don't listen to those talking heads!

Question: Why on this chart did you draw your fib extension from the high of the prior day to the low of your 15 min OR?

I thought as it was a 'gap up' from the previous close that you would have been drawing from the prior day low to the high of the OR?

Just trying to better undertand your magnificently simplistic and effective approaches. Thank you.


upsidetrader said...

fibs are beautiful

Born2Code said...

are you no longer using the 5ma? i did not notice it on any of the recent charts.
welcome back.
does your return mean that Victoria is resuming blogging soon too?