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TFC Commodity Trading Forum

Re: July Crude/ Plunging/Oversold

"in my experience using fibs in that manner is more for possible final targets"

Yep, I found that this method is applicable to wave c and wave e, or 3 and 5.

"also look at 2.618 and 4.235"

Yep, I use the whole series of fib numbers if/when they are applicable depending on the specific application required, .236 .382 .618 1.00 1.236 1.382 1.618 2.00 2.236 etc etc.

" also you may 31 date is interesting .... how about a bounce high there..... 94 would be nice.."

Yes, that scenario is quite possible, May 31 could be a wave d swing top instead of a wave 3 bottom. Anything is possible with these markets, never any guarantees of a specific outcome.