Integrating Technical Analysis for the Investor

And should some of the Fibonacci objective levels coincide with important moving average or Bollinger Band levels, their significance will obviously be increased.

That being the case, the Fibonacci technique does not suffer from the effects of being a moving target

Fibonacci objectives will not shift once the high and low points are selected. If the points selected are important historical levels, the objectives arrived at will not change unless new historical levels are reached.

Pick a prominent high point and prominent low point.