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[Previous entry: "Question from a trader."] [Main Index] [Next entry: "Market update January 8th"]
12/07/2005 Archived Entry: "Fibonacci support & resistance."
Alex, Resistance does not automatically become support, you need to do separate support studies for Fibonacci.. Daily Fib levels are more powerful, and can have a dramatic effect on intraday trades. For sure you should know where those are. Thanks for the comments on the video seminars, everyone likes them! -Neal.
Alex wrote:
> Hi Neal
> I have question on today's video. We have Resistance on Pound at
> 1.7574 and 1.7602, what happens if if brakes those levels, can 1.7574
> and 1.7602 now become support? Another questions is, When we have a
> Daily chart open and have fib levels on it. How powerful are those
> levels on itraday charts 15 min or 60 min. because we also have fib
> levels on 15 and 60 min charts, if we compare daily fib levels to 15,
> 60 min levels, which one would be more powerful?
>
> Thank You Very much
> Great Videos, learned allot already
> Alex
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