RE:50% Fibonacci retracement is C$11.00I once had a fellow who met with me to try to sell an investment tecnique based on teshnicals . At the time , the tecnique was quite simple and was called the chinese wall method. He showed me reams of historical data for each of about 20 commodities. In each case sure enough his tecnique made money. I was flabbergasted. Then suddenly an idea hit me. There are more than twenty commodities , how did your tecnique work for them ? Well, he laughed about 20 lost money and about 20 more broke even !! My next question was how do we know which commodity iwill be profitable and which will not ? He laughed again , we don't we will only know later !!
I can still hear him laughing, but probably much harder today !!