My thanks go to Skim for her tutorship on Saturday about the DOW and Fib. Retracements.
Attached is yesterday's 1 min DOW, showing the fib. retracement fro the open at 9893 to the bottom at 9812. The correlation of the various % points is awesome, and tie in very nicely with my previous obsevations about Res/Support values being around the 32/64 value.I.E the 23% was 9831, the 62% was 9862. Not in itself very exciting, BUT, as an extra tool to decide/confirm likely SR values, it is both remarkable and invaluable.
Skim showed me other very useful techniques regarding dynamic use of fibs. on the fly and I'm actively persuing those. It certainly seems a powerful ananlysis tool.
Attached is yesterday's 1 min DOW, showing the fib. retracement fro the open at 9893 to the bottom at 9812. The correlation of the various % points is awesome, and tie in very nicely with my previous obsevations about Res/Support values being around the 32/64 value.I.E the 23% was 9831, the 62% was 9862. Not in itself very exciting, BUT, as an extra tool to decide/confirm likely SR values, it is both remarkable and invaluable.
Skim showed me other very useful techniques regarding dynamic use of fibs. on the fly and I'm actively persuing those. It certainly seems a powerful ananlysis tool.