FTSE100 Intraday Trading - September 03

bonsai

Veteren member
4,106 11
they really were giddy heights ?

but if you have been following my approach, you may have been looking for a 'resistance ' line or in this case a 'support' line.
I hope you found it.

I hope this chart is self explanatory as it follows the principles
I have referred to before.
AND of course, we are now bang on the bottom channel line.

so we have reached a critical point. If it fails, even I may become bearish !
:LOL:
 

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MoneySpider

Newbie
1 0
Hi everyone
just wondered if anyone knew if Fibonacci retracement is correctly used on log or linear scale charts. For example ive got 4082 as the 23% level on Footsie in Linear and 4055 in Log (march-sept rally),but looking at the way it bounced of 4082 today the answer could be linear what do you guys think
 

bonsai

Veteren member
4,106 11
Money
I have never used log calcs.
Dont use 23% either.
And wouldn't recommend it.

But if it works for you , use what works !

Dont think it stopped today because it hit 23%.
 
 
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