10 reasons why pen's chart is..., page-42

Thanks Ceb; will have a look at these in due course.

Fibonacci studies interest me, but to be honest I see a lot of variation in their application and sometimes I think people draw them to suit their favourite forecasts.

My understanding is they should be drawn across single price swings, be that on the daily, weekly, monthly chart etc. Using a Fib retracement or extension prediction that spans a time where price moved up, down, then up again is contrary to strict theory.

The other element which I find difficulty with is that they only appear to have relevance when you select the correct price swing; ie one that is technically significant to the stock.

Trading opportunities before year end!