re: fibonacci theory ... alpha
Hi Alpha ... you need to go wipe your chin bud ... you have become decidely insulting of folks here lately and it is not appreciated ... keep it up sunshine and you could easily find yourself on ignore.
A Fibonacci retracement is a pullback or retracement occuring after any price trend ... up or down.
Fibonacci retracement studies can be applied over any timeframe ... as figure 2 in my post shows even intra-day charts are often done. One does not need to go back two years in order to select a start point.
All things can be as simple or complicated as you wish to make them ... I don't think AMP is particularly complicated.
Fibonacci retracement studies are also not inter-dependent on one another but are applied as single studies. They expire when the price trend changes and a new study is created.
Further, I don't see anywhere in any literature that start/finish points occur at any arbitrary points in space ... they can only occur at specific price plots.
Your last study on AMP chart shows a plot at $3.50 ... a price clearly AMP has not touched. I have yet to see a Fibonacci retracement study applied this way and suggest you should use the last price plot at support level of $4.22.
