fibonacci retracement

#2
cmlee said:
Hi
anyone knows how to use the fibonacci retracement indicator in metastock?
thanks
Open MetaStock. Click on QuickStart Tutorials -> Drawing Line Studies
 
#3
TATrader said:
Open MetaStock. Click on QuickStart Tutorials -> Drawing Line Studies
Probably my english is not so correct. I know how to draw using retracement lines using metastock. What I want to know is where on the chart do I start and where do I end ?
Are you able to understand what I mean?
 
#4
cmlee said:
Probably my english is not so correct. I know how to draw using retracement lines using metastock. What I want to know is where on the chart do I start and where do I end ?
Are you able to understand what I mean?
The retracement lines on a chart can be drawn from any of the low pivotal points to the highest pivotal point. For example, let's say HLL opens at 230 on a particular day, then trading for a few moments, it picks up momentum and reaches 240. Thereafter, after retracing to 237, it continues the upward journey and reaches 250 and starts to move down. The retracement lines in thhis case may be drawn from 237-250 and 230-250. However, the 237-250 retracement lines will signal the retracement lines for the near term while 230-250 lines will give retracement levels for the long term.

Best Regards,
--Ashish
 
#5
cmlee said:
Probably my english is not so correct. I know how to draw using retracement lines using metastock. What I want to know is where on the chart do I start and where do I end ?
Are you able to understand what I mean?
hi cmlee,
i can send u pdf file which sort of explains it, if u want, but mind u the author says at the end that like all other tec hniques this also is imperfect.
regards
ragh_ash
 

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