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Strategies & Market Trends : DAYTRADING Fundamentals
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To: TraderAlan who wrote (6213)12/27/1999 10:03:00 PM
From: Dan Clark  Read Replies (2) of 18137
 
Alan,

Regarding, "The common knowledge of 38-50-62 has me trusting those levels much less than I used to.", I think that there may be an upside to this. If everybody knows about this, it may become a self-fulfilling prophecy. I've noticed recently that Fibo retracements (and Bollinger Bands) will sometimes fall just short of where you would normally expect them. I think that traders are "leading" the price and getting in more quickly. The key is to "lead" the "leaders". That can be a tough call though.

Regards,

Dan.
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