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Hi everyone.
Having said my piece about the excessive theoretizing going on let
me share something, some of you might be interested in. Attached is a gif
file showing a 10 minute chart of the Dow Jones Futures Contract. The
Yellow line in the middle is the *Pivot* or the (High+Low+close)/3. The
other four lines are computed as follows. Yesterdays range is high - low,
using only the day session.
Up1 = Todays Pivot + Yesterdays range * .5
Up2 = Todays Pivot + Yesterdays range * .618
Dn1 = Todays Pivot - Yesterdays range *.5
Dn2 = Todays Pivot - Yesterdays range * .618
The chart is self explanatory, and as to uses. Thats where the trader comes
in. Probably a bunch of different ways to use them.
Pete
Attachment Converted: "c:\eudora\attach\FIBPIV.gif"
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