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Strategies & Market Trends : Classic TA Workplace

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To: Doo who wrote (17680)	10/23/2001 2:30:37 PM
From: Chip McVickar	Read Replies (1) of 209892

>>calculate tp's if you were working a 5m chart for entries and exits on the nq<< Using nq01z 5min chart: low at 12:30...count to low at 1:20 = 10 bars 10x5min = 50x1.618 = 80.9min Move forward 1hr...+ 20.9min counting from low at 1:20 So..., look for a window for trend change at 2:40+ Now this is only a key and must be used in context with other signals and information. I use them with fork tines, bar patterns, and other indicators. If the price is trending down into that "window" the market should reverse trend..., if not look for further weakness. Same is true trending up. In "jello" either way is possible. Sometimes there will be a cluster..., this is more powerful. Duration of price move is unknown..? Hope this helps. Constance Brown in "Technical Analysis for the Trading Professionals" uses similar fib stuf. Chip

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