|
PureBytes Links
Trading Reference Links
|
Lynn,
Well done! Most of the posts on Fib have ended up deleted, as they haven't
added anything I haven't already heard. Your post succintly made an
important point about this Fib business...
> However, once you realize that a W2 is NOT supposed to be a fib
>ratio, it allows you to view the entire pattern more objectively. It is just
>as important to know when NOT to expect a fib ratio as it is to know when TO
>expect it.
This follows the work of DiNapoli, Miner & Joseph. Shotgun approaches w/
the Fib tool yield inconsistent results. Appropriate applications yield
more profitable opportunities (IMHO). I, too, was once a blind Fibber until
I began applying a higher context (e.g., Elliott Wave). Tho not an EW
expert by any means I've at least limited my losses by not taking so many
Fib retracement trades without first applying a common sense approach such
as yours, Lynn. Thanks for your contribution to the forum.
Michael Guess
|