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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (36794)	9/3/2000 3:34:00 PM
From: Cube	Read Replies (2) \| Respond to of 79382

Doug, I do teach dynamic support in the seminar and you did develop your methodology after LA. Both true statements. The above is absolutely true. That statement neither attempts to take credit for anything you have created nor is anything close to what you claim is "exactly" what I said. If you really mean that you do not and did not claim to take credit for what I have created, then we are making progress. And every indicator period I use is based on Fibonacci...and they always have been, as I do bring up in the seminar. The settings you choose to use for periods being based on Fibonacci is meaningless when using indicators. Especially what Larry Williams and J. Welles Wilder call false confirmations. You can say that Stochastics, RSI, Money Flow, Moving Averages, and MACD are all rating an 8 on the 56 valuation method. You might think that this confirms something but it confirms nothing because all of the above indicators are based on price. All you've done is portray price 100 different ways. So whether you use Fibonacci numbers in your Stochastics, MACD or any other indicator settings, make them no more or less accurate than the inherent accuracy of any indicator to date. Which is at best 50%. And as we all know, 50% is untradeable. My trading techique uses Fibonacci as a number in absolute trading days, not indicator settings. I do not use currently published indicators at all. Perhaps now you will see that your use of Fibonacci and my use of Fibonacci is similar in name only. Cube