1. DIYTechnicalAnalysis is a private community of traders and investors interested in building wealth from Indian equity market. You can become a member with a one time registration fee of ₹199. Click here to become a member

fibonacci extension

Discussion in 'Technical Analysis' started by krasquinha, Sep 5, 2013.

  1. krasquinha

    krasquinha Member

    Joined:
    Jun 3, 2012
    Messages:
    199
    Likes Received:
    7
    Hi Shabbir,

    Is it better to verify the support resistance based on fibonical retracement and target based on fibonical extention .... Please suggest.

    Regards,
    Kiran
     
    krasquinha, Sep 5, 2013
    Share #1
  2. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    I don't do it but that does not mean it cannot be used. I only have shared Fibonacci because when market is going down people talk a lot about 50% retracement terms and nothing more. I prefer shorting instead of trying to buy when it would change the trend.
     
    shabbir, Sep 5, 2013
    Share #2
  3. krasquinha

    krasquinha Member

    Joined:
    Jun 3, 2012
    Messages:
    199
    Likes Received:
    7
    thanks Shabbir... ca we use this tools to get the intermediate possible reversal points ...
     
    krasquinha, Sep 5, 2013
    Share #3
  4. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    I would not sat NO but then I would not
     
    shabbir, Sep 5, 2013
    Share #4