Video - Answers to questions re fib retratecments

[#1]

This vid shows how fib retracements work.....most probably the tool I use most on a daily and longer term basis. This is as it can be applied to the Dow right now....the decreasing volume and action in relation to the fib levels tells me the probability of further downside is high....http://www.screencast.com/t/HVdJBlm6yIz

[john_1]

Ta!

[#3]

have you been following the daily technical analysis on this site?

[john_1]

Nah! just noise.

[Chem_I]

Yes chartist,I finally understand the purpose of the feb-r. Thanks for the reply.

[Chem_I]

If you apply fretrace to the topi. will you also say its to early to say that its back to a bull market.

[Ega]

Thanks Chartist,

YOU ARE A BRIGHT STAR

[#8]

So I hope the price action today has graphically demonstrated the value of fibs...the best thing about fibs is that they are a tool that work across all time frames, all markets all types of markets. If you have as a premise that the market is the result of the collective actions of thousands of natural beings you will get what fibs are about....if not you will think they are k@k and you will go your whole trading career without experiencing the humility Fibs can instill in you.....there is no sense or rationality in the market only the natural order...

[#9]

Well said Chartist! Thanks for the vid!

[divz]

Thanks chartist amazing - dow almost exactly as per s.cast now i geuss we wait for it to bottom out then retrace again?

[#11]

yes...we need to see at the very least a retest of the most recent lows lows....this was one of the most obvious calls anyone could make....steadily decreasing volumes with increasing price at a significant fib resistance level as well as trend line...thats why ts so important to keep it really simple...other indicators are pretty useless in market conditions such as this...sometimes we just refuse to see what is right in front of our eyes...I notice a whole lot of messing around with RSI levels, up channels, bottoming patterns and other such stuff..

[org]

I developed a system of OBLIQUE trend lines , skuins lyne,which works amazingly well.You guys are just used to level lines, but u can also draw them skuins , and they point to time and price levels in the future.Physics and maths, there can only be one future, and it gives clues ahead, like afalling ball.Hope to publish it here soon, its cast in the laws of physics...

[#13]

Looking longer term, what is your Fib retrace on the bull run from 7 300 in Aug 03. PS: See my other post.

[saash]

Is a close higher than 60% retracement bullish? I'm having trouble with exit strategy - I either exit the trade too early and miss further upside, or I hold for too long and miss the trend entirely. Would like to learn what to watch for to time my exits better. Thanks.

[#15]

yes it is...but as I indicated we didnt get it and therefore I saw further down side and even a retest retest of the lows as a higher possibility...

[asylum]

Hi Chartist great vid. Can you tell me is retracement useful for individual stocks. Thanks

[saash]

yes. Thanks. Trying to apply this technique to other trades. Ta