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Strategies & Market Trends : Galapagos Islands
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To: Jorj X Mckie who wrote (43491)7/6/2003 4:37:38 PM
From: Lazarus_Long  Read Replies (1) of 57110
 
OK. I PMed the link to the_phoenix.

Let me point out that the more Fib ratios you add, the more you increase the risk that results are due to chance.

there may be more justification for using a convergence of fibs.
I assume you mean Gartley patterns. Those suckers would be a lot harder to do a probability analysis on. I don't think I'd want to attempt it without software to recognize the patterns. The calculation of theoretical probabilities would be longer and more complicated too.

Again, the argument will get pretty boring with me on the other end because I use fibs as a secondary or tertiary datapoint and don't claim to be an expert.
OK. What are you using? Checked them against chance? :-)
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