BS"D

We too are not exacting about the Fib levels per se.

Though PMT the does not consider Fib levels as trading or Pivot Levels, they are very useful for
gaining an overall picture of current Price Action. For example, at the Long Term 50% Fib level
we prepare for probable S/R influence, perhaps a stall or a reversal. At the LT 62% Fib level we
again prepare for probable S/R influence, perhaps a stall or a reversal. If the 62% is overrun,
we tend to expect a continuation of the LT Trend. This might be considered confirmation of our
raw Reading of the Tape.

We also utilize this principle to some extent for intraday entry and exit decisions, if the second
candle in a 2-bar pattern retraces >62% of the first candle, we consider an aggressive entry or
exit before the 2nd candle completes.

Be well,
Asher
=] ;-)>
http://www.TradingThingys.com