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# Setup for SPY Fibonacci techniques with Clones.

BATS:SPY   SPDR S&P 500 ETF
998 17
This chart contains Fibonacci retracements and wedges to forecast psychological areas of support or resistance. The first Fibonacci retracement is lined up with price action that touches multiples times on the retracement, thus this levels has higher probability of influencing price action in the future. I also utilized the technique of Sierpinski fractal triangle clones to identify possible support and resistances, the large clones are also lined with with the first fibonacci retracements. Here is website that explains further information about Leonardo Fibonacci tools http://www.investopedia.com/video/play/trading-with-the-golden-ratio/ If you zoom out, you can see that the highlighted cyan areas lines up very nicely with fibonacci lines.
...I understand that you know the Sierpinski triangle?
hehe
Yes, I learned in geometry class during high school. This was my first time doing it, they are not perfect.
http://en.wikipedia.org/wiki/Sierpinski_triangle
Nice work will be an interesting follow.
those are actually zeldian tri-forces: http://zeldawiki.org/Triforce
Just to be clear, do my crash research topics here need to be: SierpinskiT's, I'm competent with fib ext/rtrce only, but Zeldian Triforce...I gotta admit, during & since college, interplanetary geopolitics and bi-species poli-sci has always been a bit of a black hole with me.... K, sorry, now I can be serious again... tell me, any less than obvious voiding scenarios I need to be aware of? Less than obvious I mean, to an orangutan.... Just how 'granular can this set-up still realistically/statisc. offer useful perspective? I know this is silly questioning in many ways, however, I'm trying to stir the pot a bit here and generate some comment I can start hanging some flesh on. Obviously I needed a platform for my xenophobic jokes as well.
AmsterdamWhale
Yeah.. I'm not a fan of the triangle clones. Rectangle and squared clones have shown merit though.
As I mention before, this is my first time doing it, so it still under testing. The market will tell the truth about its effectiveness.
jmtbernardo
Others have tried this Triangle Clone technique and haven't shown much progress towards predicting future prices.
QuantitativeExhaustion
Failure is part of learning :)
jmtbernardo
If you can get the success rate of what nmike did with parallel rectangle clones, I'll give it a look. Until then I remain a skeptic
QuantitativeExhaustion
I understand, i would be skeptic too, since it is my first time.
You're on another level.
Liking what I see so far great work
thx
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