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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: TechTrader42 who wrote (11115)	1/30/2001 9:13:53 PM
From: MechanicalMethod	Read Replies (1) \| Respond to of 12039

I don't give any weight to fibs but they're handy for guessing parameters others may have used. I section lots of stuff but prefer 3rd's 4'ths 5'th's and 10th's. It's the idea of drawing a line at a percentage point and responding consistently that's important -- and behind the usage of fibs but most will argue that. I prefer nonfibs.

To: TechTrader42 who wrote (11115)	1/30/2001 10:20:04 PM
From: MechanicalMethod	Read Replies (2) \| Respond to of 12039

On graph paper layout a 1x1 square and draw diagonal AB with AB = 1.414 {square root of (1 squared +1 squared}. Whirl away by drawing BC perpendicular to AB with BC = square root of (AB squared + AB squared). I did this. Still have the graph and found it revealing when I got to diagonal HI which I sectioned into 4th's. For instance EF extended bisects HI at it's midpoint. After countless hours persuing whirling squares I determined the math is valid but applying it's an entirely different thing. CD extended is kool too as it intersects HI at .25 * HI. Anyone that's studied advanced trendlines will find this fascinating. BTW, I don't use it, haven't looked at it in ages, but the math's interesting and I use it as I mentioned earlier -- simple fractions. I believe any fraction consistently applied including fibs would work but my preference is forget fibs, keep it simple but stick to the ratio once it's set. 2's, 3's, 4's are all good -- just be sure to apply them mechanically. Anyone that duplicates this using fibs please send me a note. I tried whirling pentagons, still have the graph and my notes.