Fibo Question?

[New Year]

Hello Fellows:
I was looking to a system from a guy and him advocated fibo retracements to entry, nothing unusual... but him draw the retracements in the opposite way that I and most of the current systems do; this way:

Quote:If you are measuring a downtrend the top (swing high) will be the 100% and the bottom (swing low) will be 0%. If you are measuring a uptrend the bottom (swing low) is the 100% and the top (swing high) is 0%. In other words you are always chasing 0% in the direction of the trend and 100% is the starting point.

I checked the internet and found some people or sites {not many} using the same concept that this guy?
downtrend
top (swing high) 0.0 %
bottom (swing low) 100 %

Any ideas? or that is obsolete.....














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[DerekStone]

Not being snarky or anything, but retracements, of any percentage, are nothing but areas bearing a specific mathematical relationship to the high/low measurement.

What really matters is whether the subsequent prices act "differently" when any of those specific retracements are reached. Or "differently" when not reached.

The latter is probably more important.

DS