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Strategies & Market Trends : Harmonic Trading with The Phoenix -- Ignore unavailable to you. Want to Upgrade?

To: the-phoenix who wrote (835)	7/4/2003 2:33:34 PM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 941

Pheonix, you know my position in this chicken and eggs question. Do the prices react (stall, rebound, break through) fib levels because most people use fibs in TA, or is the fib level a mark at which "naturally" the price will react. My position is that the fibs are present in most charting softwares and that most TAers use them to take a decision (and not the other way around). Fibs seem to apply to the spoos and the Naz. On gold and silver metals, those levels are Gann eights. Im am sure you can find other instruments "reacting" on Hurst factors, r squared, ichimokus, Blau, you name it. In essence, try to determine, and this for each instrument you trade, which indicator/level/oscillator/cycle most traders trade upon. FWIW, my trade levels for next Monday (I didn't added the Gann levels, but I already can say that I have "historical evidence" to prove you that I can tell you the closing price one day ahead. I should start a paying newsletter ROFL). Futures: Targets/pivots/retracements: Source eMiniNaz eMini SP S3 1184.50 947.75 S2+ 1197.50 956.88 S2 1210.50 966.00 S1+ 1215.00 970.13 S1 1219.50 974.25 R3 1288.50 1020.75 R2+ 1275.50 1011.63 R2 1262.50 1002.50 R1+ 1254.00 997.50 R1 1245.50 992.50 Pivot 1236.50 984.25 P+ 1228.00 979.25 P- 1228.00 979.25 limit up 1279.00 1022.50 limit down 1179.00 942.50 Day-1 low 1227.00 976.00 Day-1 high 1253.00 994.20 Day-1 close 1229.00 982.50 11.62% 1372.00 1096.75 6.62% 1310.50 1047.50 3.62% 1273.50 1018.00 1.62% 1249.00 998.50 0.62% 1236.50 988.50 0.38% 1233.50 986.25 -0.38% 1224.50 978.75 -0.62% 1221.50 976.50 -1.62% 1209.00 966.50 -3.62% 1184.50 947.00 -6.62% 1147.50 917.50 -11.62% 1086.00 868.25 Another site: charts3.barchart.com

To: the-phoenix who wrote (835)	7/4/2003 9:20:36 PM
From: Little Joe	Read Replies (1) \| Respond to of 941

Without trying to diss you, because I am a great advocate of "simple" technical analysis, although I think it works mostly because it keeps you out of trouble, I cannot give a great deal of credibility to your assumption that fibo works. There is a great story about Gann who in the presence of newspaper reporters made a large number (I think about 30) consecutive trades, all of which were profitable. I think he knew something, although I don't know what, despite having read most of his books (which are unintelligible) and the writing of many who claimed to have his secret. For all of the trading systems and techniques that I have seen, read or read about, I don't know anyone who can match what Gann did. I have never seen a trading system or technique which works in all markets at all times. I have a suspicion that it is more about discipline and successful money management than it is about the techniques involved. I would suggest that if you took your money and divided it by ten and invested one tenth in ten different stocks, buying some and shorting others and using reasonable stops and letting your winners go, that you would make money. Not because this is a great system, but because, the system forces you to cut your losses and let your profits run. Technical analysis foreces us to do that and that is why I believe more than other reason that it is successful. Little joe