hi ab, according to my little knowledge, 290 top should consider as last top for fib retracement cause support line breached after that top. until then, lower top and higher bottom made symmetrical triangle. that tri. breached in DEC-2009. so, top before breech of support line is considering as top for fib retracement. aware of my insufficiency in TA field, do let me know where I'm wrong for correcting my blind sight. expect to oversight my control over language and try to focus on intent. thnks & regards.
From: Abhijit <ap19632000@yahoo.
To: Technical-Investor@
Sent: Sat, 6 February, 2010 4:30:22 PM
Subject: [Technical-Investor
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
Your Mail works best with the New Yahoo Optimized IE8. Get it NOW!.
__._,_.___
For Forum Rules of Conduct & Disclaimer, please go through
http://finance.groups.yahoo.com/group/Technical-Investor/files/!Forum Rules of Conduct.txt
http://finance.groups.yahoo.com/group/Technical-Investor/files/!Forum Rules of Conduct.txt
.
__,_._,___
No comments:
Post a Comment