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The long and short term
time frames for the QQQ indicate that a possible high is in place.
"Fibonacci
Time Retracements"
How you can identify
possible turning points in the stock market using Fibonacci time
retracements and Fibonacci numbers.
Would you like to be able to:
- anticipate a likely turning
point in the stock market
- with accuracy down to the
day
If you are like me, then the
answer is "Yes, of course." You can stack the odds of
success by using Fibonacci time retracements and time counts - especially
if you include retracements and numbers over different time frames.
Starting
with the all time high
Looking back from the all time
high for the QQQ in March of 2000 to the recent low of October 2002 and
measuring the important Fibonacci time retracements shows this:
The 38% time retracement
targets September 25th 2003 as a possible turning point (in this case,
turning back down).
Of course, there is no
guarantee that the recent high (which occurred on September 18th) will
turn out to be a significant high, it's amazing that over a three year
time period that we can anticipate - within a week - when a likely turning
point might occur.
Once the October 2002 low was
confirmed as an important low, time projections could have been made.
Zooming in
on the short time frame
Using the Fibonacci sequence,
count the number of days from swing lows and swing highs.
Read about fibonacci
number in the stock market by clicking on the link.
I am showing only the counts
that indicate the high in September as a possible turning point. The
important point to make here is this:
The accuracy of prediction
typically increases as the time frame gets smaller and smaller.
The Fibonacci numbers counted
off of the July 1st low and the May 13th high predicted the September 18th
high, while the longer time counts from the February 13th 2003 low and the
October 2002 low predicted a turning point closer to the September 8th
high.
Using Fibonacci time
retracements and Fibonacci numbers over multiple time frames
can help you identify turning points in the stock market.
All of this can be automated
with trading software (recommended resource).
Trade well!!!
Recommended Steve Griffiths MTPredictor software - trading software that automatically identifies opportunities using Fibonacci retracements.
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