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Registered User
Joined: 1/5/2005
Posts: 24
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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
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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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
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Registered User
Joined: 1/5/2005
Posts: 24
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Thanks for the update. Yes, I did see the video...but I must have missed the key element; all is clear now.
Tony
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