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fibonacci retracements etc

  • #1
  • First Post: Jan 26, 2007 3:56am Jan 26, 2007 3:56am
This is probably a simple question for majority of people on this forum.
However I will ask anyway.
It is to do with fibonacci retracements, how the heck do yu work them out.
let me give an example, for something that Monarch mentioned today......

High of 1.9671
Low of 1.9613

Fib retrace 61.8% equals 1.9649?

How is the maths worked out regarding the eventual figure of the above 1.9649, or another way, what is multiplied or divided to get final figure?
Would appreciate your help. Many thanks William
  • #2
  • Jan 26, 2007 5:30am Jan 26, 2007 5:30am
Quoting mercury7
This is probably a simple question for majority of people on this forum.
However I will ask anyway.
It is to do with fibonacci retracements, how the heck do yu work them out.
let me give an example, for something that Monarch mentioned today......

High of 1.9671
Low of 1.9613

Fib retrace 61.8% equals 1.9649?

How is the maths worked out regarding the eventual figure of the above 1.9649, or another way, what is multiplied or divided to get final figure?
Would appreciate your help. Many thanks William
Hi William
I expect someone will say it's worth understanding the math behind, but, whatever trading platform you run, the Fib tool takes care of it for you.
The hard part is picking tops and bottoms to run the tool from.
But I expect some kind soul will pop in and enlighten us
  • #3
  • Jan 26, 2007 6:28am Jan 26, 2007 6:28am
A = 1.9671
B = 1.9613

C =(A-B)*0.618 = 0.0036

61.8% Fib =C+B = 0.0036+1.9613 =1.9649
  • #4
  • Jan 26, 2007 6:47am Jan 26, 2007 6:47am
Quoting FXSnipe
A = 1.9671
B = 1.9613

C =(A-B)*0.618 = 0.0036

61.8% Fib =C+B = 0.0036+1.9613 =1.9649
You normally don't have to wait long on this Forum, there're are so many knowledgeable folk around. Enjoy
  • #5
  • Jan 26, 2007 7:10am Jan 26, 2007 7:10am
Many thx to Peter and Snipe....simple when u know how..
and I didnt!!
Best regards,William
  • #6
  • Jan 26, 2007 8:14am Jan 26, 2007 8:14am
Here are a couple of a plethera of sites relating to the work that Mr. Bonacci's son did on Mathematics in Nature.

These sites are of the more basic variety.

hth.

http://educ.queensu.ca/~fmc/may2002/RabFib.htm

http://milan.milanovic.org/math/engl...relation2.html
  • #7
  • Last Post: Jan 26, 2007 8:30am Jan 26, 2007 8:30am
There's a raft of stuff here as well. It's a good place to go when learning (assuming you ARE learning, apologies if not) Investopedia on Fibs. Scroll down until you get to the Articles section for more info.

This site was in my bookmarks, haven't been there for a while, and I have no connection with them, but there are some videos you can look at and they have a strategy using CCI to refine entries, http://www.mjbraun.net/
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