DislikedHi Dan
You may well be right and most things are open to interpretation so we are probably both right and both wrong all at the same time.
The point I was trying to make on the current posting was not my own but from Jacko's post on 27th August 2009:
http://www.forexfactory.com/showpost.php?p=2997724&postcount=9045
Cheers
DaveIgnored
Thanks for the reply. I think you are right in so much as when the market is ranging up and down the 50% level would be a good target from selling the top and buying the bottom.
However, when the market is trending I think the 50% level is used as a guide to getting in the market at a discount. I.e. when the market is going up you wait for a retracement and the 50% level (or better) represents the discount level.
Hope that makes sense!
Regards,
Dan