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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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ajtj99
To: Sun Tzu who wrote (41444)10/30/2021 10:37:06 AM
From: Sun Tzu1 Recommendation  Read Replies (1) of 97327
 
A note about my Fibs - they are not based on some closing bar's highs or low. They reflect narrow band areas where I expect them to be turning points. Often times the fibs are penetrated a few times on very short ( < 1m) intraday bars. On 2 - 5 minute bars they will present a more conventional picture where the tail of a candle may go through the fib.

Also, the speed with which the index approaches the fib should tell you if it will hold or not.
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