DOW

Hi Jackozy, that is great thanks, the only bit I do not understand is why the 100% was placed at 14089?

jonamacg83 wrote: Great chart and very insightful - the only question I have is why did you put the 100% mark where you have?

Hi jonamacg83,

The Fib positions are determined by the placement of the 0% level, not the 100% level. They're extensions of the 4 June 2012 to 5 Oct 2012 move, not retracements. They're used to see where possible resistances will be whereas retracement Fibs are used to look for supports.

If you don't have a Fib extension tool then use the retracement one but do it upside down from, in this case, 5 Oct 2012 down to 4 June 2012 and then move the whole Fib sequence to the Nov 2012 low and you should get the same result.

Hope that helps.

Zoomed out view with the channel clearly to be seen

dl.dropboxusercontent.com/u/4899609/dow23rdmay1.png

Hi jona

Thats the fib projection on jackozy chart.
hope that answer the question ...

jonamacg83 wrote: Great chart and very insightful - the only question I have is why did you put the 100% mark where you have?

Thats the way i see it J one more up then larger degree correction to follow assuming those numbers mentioned in the last few posts hold up.......

Great chart and very insightful - the only question I have is why did you put the 100% mark where you have?