Sensex

Saturday, February 06, 2010

[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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