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Strategies & Market Trends : Harmonic Trading with The Phoenix
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To: the-phoenix who wrote (833)7/4/2003 12:29:58 AM
From: Little Joe  Read Replies (1) of 941
 
Your article was interesting, but it seems to assume the validity of the fibonacci numbers as a stock market analysis without any proof that they work. What evidence is there that any ratio or number chosen at random will work any less effectively. For example, has anyone to your knowledge actually picked 15 or 20 different fractions or numbers or ratios or whatever and analyzed them to see if there is any significant difference in the results obtained using other numbers.

Over the years, I have read articles which claim that many different numbers can be used for technical analysis purposes. I suspect but of course can't prove that I could pick a number at random and if I looked at enough charts, I would find examples of how that particular number predicted a particular move perfectly.

So, I ask my question again. Do you know of any objective evidence that proves the fibonacci series works better than others.

Little joe
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