# whts spcl abt 61.8%

#### naga2054

##### Member
Just installed metastock, and was playing around with it.. Some Interesting thing i observed..
Some of the corrections after a steep rally are ending at nearly 61% of the rally. Can any of our senior members help me out with this cryptic number. Is it just a coincidence?

To Show the same, I am attaching VSNL chart which i generated.

Wanna Be TA..
Nagzu

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#### naga2054

##### Member
naga2054 said:
Just installed metastock, and was playing around with it.. Some Interesting thing i observed..
Some of the corrections after a steep rally are ending at nearly 61% of the rally. Can any of our senior members help me out with this cryptic number. Is it just a coincidence?

To Show the same, I am attaching VSNL chart which i generated.

Wanna Be TA..
Nagzu
WUd the graph mean, VSNLs immediate target is 430?

Nagzu

#### ivanboesky

##### Active Member
61.8% is one of the Fibonacci numbers that is used to predict the extent of a pullback after a rally. The other numbers are 0.5 and 0.382.

#### srisara

##### Member
ivanboesky said:
61.8% is one of the Fibonacci numbers that is used to predict the extent of a pullback after a rally. The other numbers are 0.5 and 0.382.

Ivan,

great to see you back.....We expect more to hear from you in this forum.

Satya

#### srisara

##### Member
IVAN,

Can you explain is it possible to predict an extent of Break-Out and the next target level using Fibonacci?

It will be great if you example it with a chart or a known scrip.

Satya

#### ivanboesky

##### Active Member
Will explain with an example some time later, for now you can refer to this very good article explaining the concept.

#### rishi107

##### New Member
hey friends,
can anyone let me Know about , how one can place fibonacci on charts,
i m confused with the tops and bottoms, "which top and bottom" we have to take, how recent one tops we have to take, kindly let me know in detail, how one can do that, if one can tell with some charts, i wuld be very Thankful to you, and why ppl dont take 78% after 61% mostly, does 78% matters for fibonacci, and is there and hidden retracement after 100% till 161.8%....
Please send me some charts with some nifty gainers or losser shares',
Hope i willl get better reply, and CANY ANYONE TELL ANY GUD SITE FOR TRENDLINES ALSO.
thanks, try to mail me directly at [email protected]
or Message me At yahoo Messenger. rishi107
Thanks...

#### Uday

##### Member
Folks,

Isn't the Fibonacci series an amazingly interesting natural phenomenon?!

1,1,2,3,5,8,13,21,34..........

These numbers 0.38, 0.5, 0.62, etc result everywhere in nature, and are seen particularly in this series.

Divide 13 by 21 = 0.62 = 21/34 etc.

5/13 = 0.38 = 13/34 etc.

Here, we have a key to mass behaviour, and that's why the Fibonacci levels are applied so extensively in technical analysis.

A correction is a result of mass behaviour. It's natural for a correction to behave as per Fibonacci adhering levels (doesn't happen always, though, I suppose).

And hats off to Mr. Fibonacci for discovering the series.

Cheers,

Uday.

testing
....