Support and Resistance Trading Forum

Re: 50% Fibonacci Level
By:deadlydoggy
Date: 4/13/2010, 3:49 pm
In Response To: Re: 50% Fibonacci Level (Erich)

if you look closely enough Erich.. you will see things i have seen many stock go to the exact 1/2 way points + - a penny..
on the sp could be out a few points still be good its a good place to trade back up with other indicators to play..

the 2002 low on the sp was 1/2 way to zero less 4 or 5 points.. the 1929 crash low on the dow was dead on ...

sometimes you can measure 1/2 way from lower highs as well for points to trade.. its is very important stuff to look at imho.. much more important than fib numbers..

cheers

dd

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