RE: [Technical-Investor] TA question

 

From what I know, tops and bottoms are considered for Fib retracements, after identifying the larger trend. So, for the chart here, I’d consider the top in Jul-2009 and the current bottom J

 

Regards,

Girish

 

From: Technical-Investor@yahoogroups.com [mailto:Technical-Investor@yahoogroups.com] On Behalf Of Abhijit
Sent: 06-Feb-2010 16:30
To: Technical-Investor@yahoogroups.com
Subject: [Technical-Investor] TA question

 

 

A genuine query on TA - not a poll or a quiz.

 

I always face this question whenever I find out Fibonacci retracements.

 

HUL chart attached (this is a 4-hour chart) - you can see 4 major tops from 27th July - these tops will be the same on daily chart too.

 

Question is - which is the best top to be considered to find the retracement levels (of course - assuming we have a low now at 227).

 

I am aware one needs to take the last top first and go step by step.

 

Has anyone come across any article describing this?

 

Cheers,

 

AP

 

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