Thursday, May 7, 2009

use of fibonacci ratios for target,,,my way.
















i am here putting a few charts ,as an evidence of a new technique, to determine targets.i take last leg of a major fall,and put fibonacci ratios in the reverse direction,,as the last major move(down move in our case) ends and if we found the new move strong enough, 1.618% and 2.618% fibonacci ratios of the last leg of the major move can be taken as targets.all charts are representing this technoqe,and i am also using the same thing even on intraday charts.

8 comments:

stocktrader said...

Excellent analysis. traders should watch this blog and trade according to strategy written here . loss will be minimum and profit unlimited.
thanks to bhavesh

Sujatha said...

Excellent charts... almost all major players reached their levels what will be the next?

The same strategy is applicable for Nifty futures too????

The problem with me is i am not using any own charts...just playing with levels with the help of 2-3 indicators

Can u guide me for learning the charts from where i have to start from?

Stockchart said...

thanks stocktrader and sujatha...yes,when i gave nifty tgt of 3700,,i had put a chart suggesting this in nifty too,,,after some time ,will also put intraday charts using the same thing,,,buy a charting software,sujatha..

rajnish kumar said...

how to use fibonacci in intraday trading in nifty. if you explain with 7 may 09 chart it will be helpfull to me to understand the concept

Stockchart said...

hello mr rajnish kumar,,thanks for the interest.i have updated my blog,i have used last three days intraday charts,to show how to use my way.

Anonymous said...

The fibo charts do not enlarge when we double click on them, so how do we view the charts.
Regards,
Sudhin Bathija

Stockchart said...

hi MEN ,my post edited,,right click and open in new tab,you will be having full view..thanks

Sujatha said...

just a single click it's working

try it Mr. Sudhin