alf44
2,025 posts
msg #102133
- Ignore alf44
modified |
8/9/2011 6:53:16 PM
It's impossible to draw the lines precisely the same way every single time ... for each chart I post ...
That's why I calculated AND posted the "precise" 38.2% Fib (1101.73) in the post above the last chart !
Certainly not makin' anything up here ... it is what it is !
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Eman93
4,750 posts
msg #102135
- Ignore Eman93 |
8/9/2011 7:45:57 PM
http://www.traderknowledge.com/free-online-fibonacci-retracement-calculator.php
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Cacher
121 posts
msg #102142
- Ignore Cacher
modified |
8/9/2011 9:06:41 PM
I have looked into FIBS .... and it really is amazing how the predicted levels happen. My schooling wants me to understand the why ...and not to "just accept it" ...... as you said the "self fulfilling prophecy", (for me) seems to be the reasoning .... but that is irrelevant .... bottom line is it seems to be be a nice tool .... especially on the overall market trends ! I can't say I would solely use this .... but if it helped to focus on an entry exit point, that I will use it ....and not to be overly redundant....but, thus the self fulfilling prophecy. Is there a tool that the technical analyst doesn't follow this line of thinking ? ....Stochastics Cross over .... Support/resistance ... bollinger bands.... or any interpretation of the tools within our grasp. Human nature loves to see patterns....even when they are not there .... or are they ?
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Eman93
4,750 posts
msg #102144
- Ignore Eman93
modified |
8/9/2011 9:45:55 PM
Yes and Yes and Yes..
The market is human even if run by computers they are still programmed by humans.
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TheRumpledOne
6,411 posts
msg #102151
- Ignore TheRumpledOne |
8/10/2011 9:39:35 AM
Cacher:
Did you watch the video I posted?
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Cacher
121 posts
msg #102174
- Ignore Cacher
modified |
8/10/2011 11:52:05 PM
What a great movie... it is part of my collection. "The void takes on order ... underlying the TORA ... maybe its genius ! It is everywhere in Nature !"
They say the Egyptians had to have conquered the value and used PI to construct the pyramids that is how the precision was acomplished... They HAD to have precision beyond their capabilities....(or did they just use a wheel for measuring ?) Interpretation is everything.
... the real lesson is that if enough follow, then we can see direction ... and if enough see resistance at a specific level .... then resistance is there ! ...and if these levels are there then we should be able to capitalize on them. If we see that an easy dollar can be made (exploited) then we can be in front of the pack.... until GREED sets us back to reality (and it will)... .... we are just part of the crowd on the same quest , following the same rules.....sometimes we will leap ahead ... and sometimes fall back .... but never should we stop.... we are human and thrive on these dynamics..... The thrill of victory and the agony of defeat. I love it all !
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TheRumpledOne
6,411 posts
msg #102278
- Ignore TheRumpledOne |
8/15/2011 5:38:06 PM
http://blog.afraidtotrade.com/a-quick-review-of-the-sp-500-long-term-fibonacci-retracement-levels/
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