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Strategies & Market Trends : Candlestick Charting--The unknown indicator -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (1078)	1/13/1998 10:47:00 AM
From: The Perfect Hedge	Read Replies (1) \| Respond to of 1589

Dave- That 94 is proving tough to get over on the osx at the moment.I thought this rally would really explode today with all the pretty candles and os position we are in.GD

To: Broken_Clock who wrote (1078)	1/13/1998 4:56:00 PM
From: MonsieurGonzo	Respond to of 1589

Dave - you be making money on your perfectly-timed trades, man! What's a good book on Fibonacci ? ...don't bother, Dave; try a search of the WWWeb and I'm sure you will find all kinds of stuff. There is very little to read about, really. The fibonacci sequence is... 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89... ...and the only way you could use it would be with a charting package that would allow you to "place" a set of horizontal lines on a chart in such a way that they "fit well" with the supports and/or resistance levels; ie., I don't think they can be simply calculated from data, I think they should be fit by a chartist. Others may disagree ( I'm an old time, touchy-feely kinda chartist :-) Most of the time, the fibonacci lines that I end up "fitting" tend to have traditional horizontal support/resistance levels to which they can be rationally explained - perhaps that is the reason why I find them so compelling. Along with candlesticks, I use: Volume Trend Lines Horizontal Support Levels Horizontal Fibonacci Lines from Tops or Bottoms 200 day Exponential Moving Averages If you buzz on over to some of the T/A threads, I'm sure you will find folks who are more knowledgeable about fibonacci and other techniques than I am, Dave. -Steve