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Beyond Fib Retracements

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frame end at or very near one of the four key retracements. That is why retracements are a key to help identify where a correction will end and why Dynamic Price Strategies are a very important part of a trading plan. Figure 4.3 includes about two years of weekly SPX data and shows that the four primary corrections during this period were each made at or very near one of the key internal retracements. Each corrective low for the SPX for this period was not made exactly at one of the key retracement levels, but all were made within just a few points of either the 50% or 61.8% retracements during this period. I could put up dozens of charts of many markets and time frames and show how almost every corrective high and low is made at or very near one of the four key retracement levels. But that wouldn’t be instructive at this point, so let’s just assume it to be the case for now. Even given that assumption, which I have found to be fact over the past 20-plus years, you have to be asking yourself (or really asking me) the big question: If there are four key retracement levels, how do I know

FIGURE 4.3 Internal Retracements

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(wiley trading) robert c miner high probability trading strategies entry to exit tactics for the for  

(wiley trading) robert c miner high probability trading strategies entry to exit tactics for the for  

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