Welcome Guest, please sign in to participate in a discussion. Search | Active Topics |

Fibonacci scale Rate this Topic:
Previous Topic · Next Topic Watch this topic · Print this topic ·
ajclarke88
Posted : Thursday, August 18, 2005 9:27:04 AM
Registered User
Joined: 1/5/2005
Posts: 24
Could you expand on the way the Fibonacci ruler works on a chart.

If I start the Fib ruler from the bottom of the chart and extend it to the top, I am not sure if the reading starts from the bottom up or the top down. I've tried the drawing both ways and what I see doesn't make sense. I am overlooking something...

I view this tool to indicate the potential retracement level and so far I don't trust the results.

Thanks for your help in this. I have learned, and continue to learn, from the many videos and answers you provide to all of us!

Tony
Bruce_L
Posted : Thursday, August 18, 2005 9:30:07 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138
The point where you start applying the drawing tool is 100% and the point where you stop is 0%. You may have lines drawn at 0%, 23.6%, 38.2%, 50%, 61.8%, 100%, 161.8% and 261.8%. Have you reviewed the following video?

Fibonacci Retracement Levels

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
ajclarke88
Posted : Thursday, August 18, 2005 12:34:29 PM
Registered User
Joined: 1/5/2005
Posts: 24
Thanks for the update. Yes, I did see the video...but I must have missed the key element; all is clear now.

Tony
Users browsing this topic
Guest-1

Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.