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You can gain so much info off of these old trading timers!

if you do not know - Larry is a very influential trader using Fibonacci and Joe is also a leading expert on Fibonacci 

Now I don't agree with them on market form since 2009 - I personally think that they've failed to see or know even that the market has INCREASED it's ENERGY level, hence the  increased volatility, which fits in perfectly with my outlook for the next decade

(If you read my Time Cycle thread - you will see that I refer to cycles, in the PAST volatility increased when the cycles increased energy) If I'm right about the next decade then swings are going to be like this and greater

 

Joe makes comment about XOP's in late 2018 - These are basically Fibonacci EXTENSIONS/PROJECTIONS of prior swings (I've marked the swings used with blue lines and the XOP's in PINK

Joe would have been out at the 2 lines that were around the 6010 level - see chart below

I published on my THT HOW TO WIN Thread using 2RSI along with market form - basically Joe's OSCILLATOR Predicator can be substituted with the 2RSI - you can also just use normal MACD too 

Again it just depends on how you define a downtrend - Joe relies on and uses his moving averages - we can clearly see lower lows and lower highs too

All this info is in Joes book - "Trading with DiNapoli Levels" - Which I bought off him at the Las Vegas traders expo in Nov 2010 and got him to give me a whistle-stop explanation of over a beer 

NOW the market does NOT always stop dead on these levels!!!!!!!! They do sometimes and sometimes they DON'T - this is WHY you HAVE to have rules 

and YES it is allowed to trade 3 units and dispose of each unit @ each of the OP levels he mentions in his book, just in case the market fails to reach the extreme fib levels

You also could derive the levels below from Robert Miners "High Probability Trading Strategies" book too

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