Saturday, November 29, 2008 2:50:25 PM
thanks...
yes the orange line is extremely significant in fibonacci terms...The exact retracement of importance is actually 78.6% or .786...that specific fib retracement is little known and seldom used...I have no clue as to why it is left out of almost all charting software...it comes from the square root of the popular golden ratio/.618
...the square root of .618 = .786129760281341848654124711
...a very powerful piece of information in my opinion...
I strenuously recommend further study of all things Fibonacci to all traders...
good luck to you and to us all...
yes the orange line is extremely significant in fibonacci terms...The exact retracement of importance is actually 78.6% or .786...that specific fib retracement is little known and seldom used...I have no clue as to why it is left out of almost all charting software...it comes from the square root of the popular golden ratio/.618
...the square root of .618 = .786129760281341848654124711
...a very powerful piece of information in my opinion...
I strenuously recommend further study of all things Fibonacci to all traders...
good luck to you and to us all...
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