Candlestick Charting--The unknown indicator Message Board

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Strategies & Market Trends : Candlestick Charting--The unknown indicator

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To: Broken_Clock who wrote (1075)	1/13/1998 2:45:00 AM
From: MonsieurGonzo	Read Replies (1) of 1589

Dave; RE:" OSX.X " We should bounce from OSX 89, Dave - though I expect it to top out and then go down one more time before stabilizing at OSX 73 base. Which OSX components did you buy ? The fibonacci levels are computed horizontal support and resistance lines (rather than manually drawn). In a DownTrend, one advantage is that we can look over on the left and see where the most likely support levels are. More subtle levels (perhaps between these horizontal supports) can be estimated with the fibonacci tool. When "new ground" is being moved in to, as in a fresh UpTrend, I assume one could use the fibonnaci tool to project out the most likely pauses or "retracements" within the trend. -Steve

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