Just preparing for a flat correction scenario.
Incredible how the top ABCD area overlaps with target zone of the failed bat setup (I left retracements from both patterns).

I am loving this AAPL crush. I hope it can hold into tomorrow, and extend from there. Too much too fast may climax it, but I'm hoping, somehow, some way, it triggers a rush for the exits in the hedge funds (so far, pullbacks have only triggered massive buying sprees), and that kicks off a wicked market sell. Recall that AAPL is the most own stock in the hedge fund world...

AAPL down about 50 from the close, nearly 10%. I love it.

Keep an eye on this. Although the odds are slim, you never know if this could trigger a flash crash.

Down almost 55 from the close. I keep waiting for the monster buying response to be triggered...

Uh-oh, I just found out my life's work is an illusion. What ever shall I do?

http://www.yourtradingcoach.com/Articles-Technical-Analysis/Fibonacci-Illusion.html

Some teasers:

"Simply because, having an understanding of the true nature of price action, there is no place for fibonacci levels in the reality of price movement."

"Fibonacci makes no sense when considered from the position of supply/demand. And there is no evidence of these levels providing any greater edge than when using a random selection of levels."


It follows from his 'logic' in the article that no forms of technical analysis can have any value at all for trading. He says things turn only because of supply/demand (I agree 100% with that). But then it follows that he implies that no method exists at all that can determine likely supply/demand balance points. The potential for the existence of such techniques, that is what I think he simply doesn't have the ability to see.

So, one last thought, then I'm taking a break. I'm just hanging around, doing chart work, watching AAPL.

Now, everyone has to admit, in general, I'm a pretty humble guy. It's a life philosophy for me, preceding trading by a long ways. That said, I'm of the opinion that likely I am the world's foremost authority on Fibonacci as it applies to trading. Maybe that's not even close, but I think it likely is true. It may sound arrogant, but the intention is just to look at the other 'experts' and see what's out there, and think about where I fit.

Keep in mind, too, my books are at about 10% compared to what I know at this stage of the game. I share some of this in mentoring, but few go far enough, do the work, to get to even a hint of the really high level stuff. My learning curve has went parabolic (probably actually just a run of the mill exponential or geometric relationship, based on the base I'm working with), and the things I have discovered lately boggle my mind. The relationships, the patterns (different use of the word than say an ABCD pattern), the frequencies, the harmonics, it's just insane.

So, I was having a discussion with the better half, it had to do with some Google searches I was doing based on how people were finding my website, and so on. Anyway, she asked me if I come up number one, or on the first page, for 'Fibonacci Trading'. I said I doubt it. I tried. I went twenty pages deep and gave up in disgust. Nothing. You should see some of the 'characters' that came up. You should go to their pages. And me? Not a mention. Like I didn't exist.

I'm just mentioning this because it seems incredible how little most people think of my work. If I could show them, in a flash, exactly what I know, what I see, to the full extent, I would like to see their reactions. But, my work seems destined to remain obscure, mostly belittled and put down, and not understood. And from a trading standpoint that's probably a good thing. I should be glad that I am obscure, or their would likely be lots of unintended consequences. Still, it stings to think you are arguably the best in the world at something, and to have a dozen people in here appreciate it, and the rest of the entire world, nada...

Yay, I'm on page 42 on Google. Page 42!

Here's an example from page 25:

http://www.babypips.com/school/combining-fibs-with-trend-lines.html

But let's look at the highest ranking choice, #1 on page 1:

http://www.swing-trade-stocks.com/fibonacci-retracements.html

Let's look at #3 on page 1:

http://fibonaccigenius.com/

And one last one from page 1:

http://fibonaccischool.com/

Pretty impressive stuff. And I'm on page 42...

Maybe it's because you don't offer a free manual??

here is aapl before earnings.....you can treat this move as one big trend day....every bounce stopped dead in its tracks right in the kane zone

so.....aapl will gap down to the short exit target....but one thing troubles me....how can aapl bottom with the indexes at the top?

Look at the AAPL close on a 1-min. Very curious.