Was looking for a way to find out the absolute all-time high/low of currency pairs. The charting package I am familiar with only goes back 10 years so it will only show the high/low for the past 10 years. But I know that some of the pairs have high/lows that occurred well beyond the 10 years I can see. In my opinion, when doing long-term technical analysis, on a monthly chart for example, and I want to draw a fib line from the ultimate high to the ultimate low (or vice versa) I feel it wouldn’t be an accurate fib unless it was to the actual all-time high & low, and not just what I can see within the past 10 years.
Thanks for any help in advance!
If you’re using a broker supplied charting package like MT4, the data will only go back as far as it has been a tradeable instrument with them. If you want data going way back you’re probably going to have to pay for it with a package like eSignal, which collects price data from more than 60 institutions and data often goes back to the 70’s. It’s not cheap though (approx $170 per month) so consider whether you really need those fibs.
Thanks for the prompt responses!
Master Tang, I did a google search but I didn’t word it as you did so my results were mixed at best. (btw, LMGTFY… never knew it existed. lol will come in handy! Thanks again!)
How do you think this is going to help your trading?
Well, if I am looking at the same areas of support/resistance (according to Fibonacci levels) that the large institutional traders see then hopefully I will be able to get in on profitable trades in a timely manner instead of getting in too late or too early.
Additionally, if I want to draw a fib line between the all time high & low of a pair I might as well use the true numbers as compared to just what my charting package/platform allows me to see. Because If I base it upon only what I see instead of what is true, then how accurate would those fib levels be?
Now the whole “self fulling prophecy” argument could be made due to the fact that everyone using this particular charting package is seeing the same information. But all traders do not use the same charting packages. And while the data should be the same regardless of what charting package is used, as has been pointed out already, the fact is they are limited to a certain number of years back.
FYI:
Found a location that easily provides the info I was searching for (after much searching). I compared the info to what I had saved. While the numbers were slightly different they were not too far off form my info. So for those that see support and resistance as more of an area instead of a hard number, like me, it should suffice.
LOL, have to make 1 more post before babypips allows me to create links.