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thanks, got confused the book i'm rifling thru indicates this as the distance between each of the numbers you listed . then it stresses the importance of these percentages and plots them as retracement percentages, from a top,this is what i thought i saw...will have more time tonite to see what the "important significance" of this means.the way i'm reading it is 62 percent would be the max retracement from a top, and is used as a buy signal. 100-62=38, this is the other retracement that is referenced, as well as the midpoint 50 percent.so on a 30 dollar high, 19.60 would be the first fibretrace of importance ,38%, and 11.40 would have been the 62 percent retrace, this is textbook example, and what i thought i saw, would appreciate any further comments you have, this is fresh out of the box to me , never even heard of fib until about three months ago |
