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Strategies & Market Trends : Technical Analysis - Beginners

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To: David R. Evans who wrote (8743)	10/3/1998 2:38:00 PM
From: feewaybill	Read Replies (1) of 12039

Hi Dave, I have been studying your webpage daily chart of ACCOB. My question concerns the Fibonacci Retracement Tool in GET. In the past in Metastock I usually start with about a " years" worth of data on the screen. Then using this tool I will plot it from a major low to a major high. I noticed on the ACCOB and the other charts on your webpage that you used the beginning of the E-Wave(What I believe we call the "0 point" of a 5 wave up) as the low. Although drawn using only about "3 Months" of data, the Fib. Ret. Tool did a great job of drawing in the Support and Resistance lines on the ACCOB chart. Now that I have GET and can look at E-Waves, is the "0 point" the best spot to use this tool on in most cases?..........................thanks...............Bruce

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