Fib Charts.

ChartMan

Legendary member
If you use them as a confirmation tool, they can be very useful. The trick is in picking the highs and lows from which to take a reference. I know of others that use them as a primary indicator. You need to look back over time and see how they fit a particular stock, so that you get a feel for how they can/can't provide assistance in making trading decisions.
 
CM, can you apply fibs to indices ( iv'e never used them myself ), it's just that indices ( Nas100 ) would probably be my preferred vehicle? Personally i would have thought that you could apply any form of TA to any style of trading although some kinds of TA may be more efficient depending upon the time scales invovled. PeeDee.
 

ChartMan

Legendary member
As a rule of thumb, you can apply any TA to any instrument. whether it works or not is a matter of lots of homework. I do know that fibs work well on the NAS.
 

osho67

Well-known member
Dear FTSE Beater

Sorry about my ignorance? What is a tracking stock, Can one buy it as a stock and not as a future? Does it have options series as well? Thanks
 

FTSE Beater

Experienced member
Hi Osho

eek :eek:
I was afraid someone would ask that :eek:

The only thing I really know about it is that it follows the Nasdaq very closely, and you trade it in the normal share dealing way. The main advantage is that you can trade the equivalent of 1/8th per contract size. 800 shares in QQQ would return roughly the same as 1 futures contract, so you could buy 100 shares and only have the equivalent of 1/8th of a futures position - If that makes sense.

I'm not sure if there is an option attached to it.

I pretty sure that's how it works, but it would be great if someone could confirm it :)
 

Naz

Experienced member
Here is a fib chart that might be of interest for anyone looking at the Q's
 

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Naz

Experienced member
Then of course we moved on to.........
 

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Naz

Experienced member
If Intel called this latest move down by hitting this fib level then..............
 

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Naz

Experienced member
.........Is it going to tell us something now?
 

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Bill G

Member
Chartman & Naz
I take your point of finding a optimum high & low,
to the extent of going back a couple of years, to compare with
a more recent fib hi & low.
 

Naz

Experienced member
Here are the QQQ's today.Just bounced off the 50%fib retracement.
 

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chump

Senior member
Interestingly it did push through the 50% and as we 'speak' is banging on 61.8% and that is where buying came in on the 23rd Feb. forming resistance today.
 
 
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