cybersaavy
geocities.com
i posted a couple thoughts there.
can i ask why you would adjust your fibonacci setup to that higher low instead of maintaining it on the dbl btm that occurred prior? it would seem since the point you reference is a higher low, that you are only fibb'ing a portion of the whole move instead of the entire move? i put some arrows on the chart that seem to fit the fib/dbl bottom start point, appreciate yer thoughts.
its funny and maybe over kill, but i can argue a triangle, an ihs, and a dbl top! regarding the lower high on 3-23 where i left the trendline on, (basically becuz its the first lower high) i would say most people adjust their line outwards as you did. and i will add that line as well, but why do people remove the prior lines? here's a csco daily chart that is typical of leaving the lines in place for me, notice lines a and b, then notice all the activity indicated by the arrows along those two lines. sometimes its overkill, sometimes it seems to work. prolly not yer textbook use of trendlines, but i find them interesting often. its kind of a discretionary thing as to when i remove lines, usually based on how bars treat the line in the future. ie, the 9-1-00...9-21-00 line i still have on as the original lower high, should be removed at this point.
geocities.com
thx
milesov |
