lowtrade

[lowtrade]

Welcome to the board

Yes it may not go higher then .016. But it may. Chart patterns and My rules of thumb, are only aids for decision making. They base price movement from historical moves in the past. There is never a guarantee if targets will be reached or passed. Most chart patterns have very reliable projections. My rules of thumb aren't in books. Just somethings I've picked up over the years. They match the reliabilty of chart patterns or I would call them TIPs.

Basically chart patterns were developed by brainiacs using decades of historical charts, to project where price will go to, if the pattern appears in your stock. My rules of thumb came from years of seeing technical information repeat continuiously. And TIPs I may post, happen frequently.

Here is info on FIBs;
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73004899&txt2find=FIBs|"rule|of|thumb";

Oh yea, to use FIBs click annotate, under any stockcharts chart. On the top click the box with horizontal lines. Click the chart at the start of the run. Hold and drag to the top of the run and let go. An overlay will appear showing retracement levels.