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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Stoctrash who wrote (25080)	6/10/1999 2:03:00 PM
From: John Meade	Read Replies (1) of 44573

Fred, you are correct I just use fann lines. Example: Fann from 5/14 high - lower fann touching lows of 5/25. Rally of 6/2 to 6/7 stopped at upper fann on 6/7. Immediatly drew fibs from 6/2's low to 6/7's high. First fib retracement coincided with next lower fann creating a higher probability of retracement. Suppose that could have been done just using fibs but I am always looking for confirmation on support and resistance. I hope that made sense. I read somewhere that so many traders now use fibs and ganns (some of them in the closet) that even if it was all astrology mumbo jumbo to begin with it has now become its own self fulfilling prophecy. They seem to work for me. John

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