Thank you Vida and sorry super I didn't see your request.
This weekend I was looking at a few scenarios and I have been using
7/7/11 at the high and the same low as Vida. In that case the
38.2% correlates with the the gap on the SPY around 120, the 50%
then comes in at 123 and then the 61.8% at 126. Those numbers
are not exact but surprisingly they are within a few pennies of the
round numbers. So depending on what day you use as the high
and low it can vary slightly. I saw that we had a gap to fill
on the upside of the SPY around 120 so I found it interesting that
using 7/7 as the high also then had a correlated fib
number.
Update - I put my fibs next to Vida's so now you have a chart
with both to use.
Thank you Vida and sorry
SPY Current Trade Exit signal
Posted by tom on 15th of Aug 2011 at 03:10 pm
Thank you Vida and sorry super I didn't see your request. This weekend I was looking at a few scenarios and I have been using 7/7/11 at the high and the same low as Vida. In that case the 38.2% correlates with the the gap on the SPY around 120, the 50% then comes in at 123 and then the 61.8% at 126. Those numbers are not exact but surprisingly they are within a few pennies of the round numbers. So depending on what day you use as the high and low it can vary slightly. I saw that we had a gap to fill on the upside of the SPY around 120 so I found it interesting that using 7/7 as the high also then had a correlated fib number.
Update - I put my fibs next to Vida's so now you have a chart with both to use.
SPY with Fibs