Fib Charts.

ChartMan

Legendary member
5,580 46
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.
 

peedee

1
341 0
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
5,580 46
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.
 

peedee

1
341 0
CM, what is it about QQQ? it seems as if it's quite a popular investment?
 

osho67

Well-known member
407 3
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
1,518 5
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 :)
 

osho67

Well-known member
407 3
Thanks Neil, you have given great links
 

Naz

Experienced member
1,391 24
Here is a fib chart that might be of interest for anyone looking at the Q's
 

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Naz

Experienced member
1,391 24
Then of course we moved on to.........
 

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Naz

Experienced member
1,391 24
If Intel called this latest move down by hitting this fib level then..............
 

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Naz

Experienced member
1,391 24
.........Is it going to tell us something now?
 

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Last edited:

Bill G

Member
92 2
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.
 
 
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