Does Fibonacci levels help you find out the bottoms?

[mehtaka]

Re: Does Fibbonacci levels helps you to find out the bottoms?

Dear one,
I am still a learner and not a learned one ! My humble answer to this is that while keeping an eye on the fib rations, we also have to keep an eye on the time frame.From the recent low or high, there is a specific number of days which meet the particular ratio. As we know , the fib sequence is;
1 1 2 3 5 8 13 21 34 55 89 144 233 377............. These are also the important days when the market achieves a particular retracement or ext. ratio.
For example, the low was 4788 on May 25th . Since then, mkt achieved almost all the important rations.On Oct 16th, the market completed 144 days after making a hing of 6284. Since then only one ratio was left to be kissed by the nifty and that was 2.618 which may bring the nifty levels up to 6387.However , the time frame is over and on November 5th,Nifty almost kissed 2.618,that is,6349.We have to give and take a few.From here, Nifty may retrace back. Here we have to watch not only the number of days but also the moving averages. I am expacting Nifty to kiss 50 DMA which falls on 6015. Here we have to watch the 100 DMA also.From Oct 16th, market is bearish and this will go on for 55 days,that is, the first week of Dec.The next high will be made on or after Jan. 13th 2011 which is the 233th day, againg a fib day .
Let's see what happens ? Wish you all happy trading.

Hello,
I think you talking abt the time zone, i.e Fibo Time zone. I did tried to get in research that, but m alwasy unsucessful. Would like to learn from you abt this. If you dont mind to teach us all how u do it. A request.

 

[hkhrunjha]

Re: Does Fibonacci levels helps you to find out the bottoms?

Thanks friend