FTSE --- Ext Fibs ... Trendlines Chart !!!

[#1]

http://www.chartupload.com/viewer.php?file=50jjzinvtmr7avoti2o.jpeg

[divz]

Thanks Hennie....but can you/anybody tell me why they calculate the retrace from the drop in (looks like) Aug/Sept and not the drop in June/July.

[#3]

The retrace from the neckline was in july ( bottom of retracement ), Aug Sep had the ftse at the -23.6% and -38.1%

[john_1]

funny I was doing exactly this chart this morning, on the DOW I give it 100 more point to reach the target...Nice Hennie

[#5]

Hi John .. Yes iam a bit Undecided on the DOW with EXT FIBS Here is why i say that .... http://www.chartupload.com/viewer.php?file=p6h32xz887j7xeghz11v.jpeg

[#6]

Here is the second chart .... http://www.chartupload.com/viewer.php?file=2z25k4dxvkim50sfik5d.jpeg

[#7]

Where do you have the neckline ?

[#8]

Question, why do we always use the neckline as parralel to the bottom? Could it not be slightly angled left or right? then Fib would surely be about halfway through the angled line?

[#9]

Well the neckline is normal worked out after the bottom trendline has broken ( which would be the retracement ) to form the 2de shoulder

[#10]

but yes it can be sideways as well

[#11]

Tnx, I would go with the second chart for neckline as the left and right shoulder plus break is clearler. ALso thanks for the answer for sideways. i always understood it as either paralele or sideways but almost everyone seems to use only paralel ;-)