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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (734)	6/14/1999 8:31:00 PM
From: -	Read Replies (2) \| Respond to of 18137

<i been reading Fibs have set percents of retrace, like 38 62 etc...so on a daily, these would be great to check for indicies and stocks no??? > Jerry, Yes, I use the Fibinacci retracement levels all the time, on day charts and intraday charts, to judge the depth of pullbacks and the likelyhood of retracement... great tools! Try doing one on the nets last move up... have they broken 62% yet? Not likely to see the old highs anytime soon... Yes, I would expect them to work at lot better on 15-min charts up... although I haven't really tested that out. The thicker the issue, the more likely they'd be to work well below 15m chart. Trading off strictly 5-min charts is a ticket to misery, I know that... Can't wait to try QCharts! -Steve