SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : DAYTRADING Fundamentals
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Eric P who wrote ()12/27/1999 4:57:00 PM
From: Matthew L. Jones  Read Replies (3) of 18137
 
Hey Thread,

I hope everyone had a Merry Christmas and that this season finds everyone in good health.

I have some questions for anyone who has been using Fibonacci retracements:

1) Is it fair to say that once an overextended trend pulls back to a Fib number and resumes the trend again, that the count would begin again in reference to the short term extent and duration? It seems to work that way, and I am new to Fib retracements.

2) How close would you typically look for a Fib retracement to get to the actual number? For example this morning I predicted a pull back from the opening high 1482.50 on the March S&P futures contract to 1468.25. (The closest tick to 38.2% retracement). As it turns out it pulled back to 1469.50 (close enough for me). Is this "loose" interpretation normal or am I reading the Fib wrong? Would some of you experienced guys cover a short when it got within a point or two of the target or would you ride it and if it failed to break the Fib and began to resume the uptrend, then cover with the new trend. And if the latter, what would you recommend as a way of determining that the retracement was over (Fib or no Fib)?

3) How widely used are Fibs for support and resistance? I have absolutely no feel for that. It would seem to me that the wider spread the usage, the more of a self fulfilling prophecy they become.

4) Any ideas how to use Fibonacci numbers for predicting intitial moves and not just retracements?

5) I heard about people using Fibonacci numbers for duration (or predicting cycles). Could anyone enlighten me about this idea? Sounds very interesting, but I can't figure how to go about it?

Thanks for the help.

Matt
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News