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01/25/2007 Archived Entry: "Questions about FibMaster seminars, and Fibonacci.."

>Neal,
>
>1. I was looking at a chart after I had watched the videos, and in a range bound market the fib levels don't seem to work. In theory the distance move from CD should be the same as AB. But it doesn't happen when the market isn't trending (which is most of the time).
>
>2. I have the most problem with is the market entry using fibs, I need the part the teaches me the technique for a trade setup (for getting into a trade) using fib levels. Such as if you use supporting indicators, or market symmetry, stochastics or volume for example along with your fib calculations to get into a trade. BTW, I use Ensign software to chart with...
>
>3. Also I have seen a bunch of programs that talk about the market going to target areas based on fib calculations, they even project them visually, but how does your program teach me if the market will go to these levels?
>
>4. Can this method be used intraday on a 5 min chart?
>
>Regards,
>James
>

James,

Thanks for your earlier note about the email error. Sometimes my spam filters will hide email from me, very frustrating. Since I'm getting over a thousand emails every day (mostly spam), this is a real problem.

Some thoughts on your questions..

1)No do not use Fibs in range bound markets. For that matter, only trade when the market is moving. Otherwise you'll be more frustrated than you really need.

2)My video seminar called "Trading the Trend specifically addresses this. That video teaches how to use MACD for trend, and Stochastic for entry/exit trigger. You will notice in my market updates I use TRSI instead of MACD/Stochastic, just because it is my preference.

3)Knowing where those levels are is easy. Know if the market will get there is much more difficult. It requires skill and experience, judgment. For example, a fast thrusting market will reach a further profit-point (exit). A slow sluggish market tens to reach only the nearer profit-point (or more frustration on the way to a distant profit-point). There are many issue that can effect the decision on which profit-points are more likely. My advanced seminars will help with this, particularly the "Let your profits run" seminar.

4)Yes! 1 min, 5 min, and all the way up to yearly, as long as the instrument is liquid.

-Neal.