StockFetcher Forums · General Discussion · Fibonacci Levels<< >>Post Follow-up
chrismnu2003
123 posts
msg #46821
Ignore chrismnu2003
9/9/2006 11:43:02 PM

I was wondering if anyone would be willing to explain to me the algorithms used for generating Fibonacci Levels as well as how to trade them?


TheRumpledOne
6,358 posts
msg #46828
Ignore TheRumpledOne
9/10/2006 8:42:12 AM

Fib levels are simple.

1) Take the high and low for the period you are observing

2) I like to make the low 0% and the high 100%, then compute the 23%, 38%, 50%, 62%, and 77% levels.

3) You can compute the projection levels at 123%, 138%, 150%, 162%, 177% and 200%,etc.. -23%, -38%, -50%, -62%, -77% and -100 levels.

Usually the instrument you are trading will find support/resistance at these levels.

For example, when a stock tanks and bounces back, the bounce or retracement will usually be at least 23%, 38% or 50%.

Just goggle Fibonacci and you'll find plenty of material to study.

HTH.


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