Fibonacci Retracements and Projection for GOOG

Using different fibonacci measurement methods to determine possible reversal points often is very accurate.

Here's GOOG finding support - and reversing higher - at $138.56.

That price level is within the support level suggested by (1) the 50% price retracement ($138.47) and (2) the 100% price projection level ($139.29).

price retracement for GOOG

Recommended

Robert Miner's Dynamic Trading - a manual that covers the practical applications of price, time, and pattern to trading decisions. If you are serious about applying the concepts of market symmetry, this is the book for you. Dynamic Trading makes use of the teachings of W.D. Gann, the Elliott Wave theory, and the Fibonacci series. This is a complete package - over 500 pages fully detailing a trading plan with trade setups, money management, and real life results.

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