Re: Does Fibonacci levels helps you to find out the bottoms?
Yes Yes Yes...............
I dont know much about elliot waves theory.. but its basis is Fibonacci..
It does help in predicting tops / bottoms ,
On a simpler presumption.. see ... think wolf......also based on Fib numbers
Down load Power point files from thread "Pick bottoms low Tops" and go thru it
U 'll get the answer.......
Only , u need to know the art of applying it..
Regards
Ajax
PS: One tip ... One great way to pick stocks are those who have fallen to 11% of
their peak values... (Think of Highly liquid stocks)
Agree with u Ajax ,..
I'm not so good with moving avgs and indicators ,.. what i use personally for my trade is various fibbo techniques ,..
The ElWave & Wolf are based on it upto some extent. Not always it should follow the fibo ratios,..!!
About finding tops n bottoms ,.. A fibbo retrace level can give u the maximum chance of reversal ,.. it doesnt mean u r always right but as much i have felt chances are around 70%. So it could be called a good chance.
Will post various fibbo charts as soon as i will see them in my system. And will try to post a new thread also over it.
Regards,..
Darsh