Hi Haspete and others. Just wanted to say thankyou on how much I have learnt from your charting on fibs. I am a novice trader in real terms. Only been doing it for 2 years, based on watching charts and using some intuition. Been quite successful, got a return on my intial investment of 110% in 12mths, before losing most of it on NUF. Anyway, thats a lesson learnt. I am basically starting all over again and been reading a lot of your posts and enjoy them a lot, thanks. I have tonight tried the fib analysis on some stocks I am trading, this is quite remarkable! There is a definitive correlation, fascinating. I have one question if I could indulge you? When using this analysis over a time period, if the stock moves above or below the zero fib, I assume, you need to extend the time period to ascertain the next fib line? eg. if looking at a 10 day chart for WOR, which I am in at the moment, today SP moved below the zero on a 10 day fib of approx $22. To ascertain where the next fib line is, I move out to a 3 month time line, which reveals a new fib @ 23.6% of $21.60ish. I guess the same works if it crashes to below the zero fib on this chart, I go to the 6mth and so on. Does that make sense, or have I gone out too far? Thanks in advance, great job.
