ENG 0.00% 89.0¢ engin limited

re: hits the fan.. keepit real chat Mate only when you have...

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    re: hits the fan.. keepit real chat Mate only when you have nothing else to hang on to..lol

    I missed my stoploss..doh..


    what I mean is that intermediate fibs are not accurate for a stock with such a short history..

    It is however very common for a stock to retace to 50%

    fibs actual divide moves into 1/8ths or approximate 12.5% increments.

    We more commonly than not , tend to trade in these increments.
    Its really a matter of back testing fib lines over all stocks..some comply with an uncanny accuracy as support resist levels, others such as spec stocks are hit and miss.
    I will still use them.
    As with most TA it is self fulfilling
    other TA traders will be influenced by Fibs and other TA
    patterns..

    I think its as accurate as pulling a P/E ratio out of a hat
    lol
    goodluck
    cheers
 
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