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Please explain. If pivot is (H+L+C)/3 and 50% fib level would be from significant high to significant low (H+L)/2, how is this the same number? Are you speaking of a particular case, or are you saying it is always the same? |
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I'm not saying they are the same, but many times (days) they coincide or close to it, it's repeated over and over again.
Regarding your other question about fibs, sniper has mentioned they are guides and nothing more, they are not sure fire spots for entries. I place the levels on my charts, they don't mean anything until prices react to them, favorably or unfavorably. Like anything else, nothing is pure science so nothing works 100%. We all get faked out and stopped out even when we think it looks like a rejection, it turns and heads in the same direction and pierces the levels. It happens, but like I said, when there are more than 2 calculations coincide (be it VOP of MP with Pivot and/or Fib), chances are higher prices will react to them.