this thread will address another neat little trick i use in scalp trading. Mostly i use this to confirm my price projection tool. On any significant peak, or low take the price and get the square root. Then if its a high ,i subtract .146,.250,.382,.500 and .618 from this number and mutiply it by itself to get expected support or resistance numbers. For example : 893.50 sq root is 29.891 and 29.891minus .146 is 29.745. 29.745x29.745=884.75 an area where some support or resistance might occur. using .250 gives 878.60(878.50) and so on. same thing in reverse for a low. for instance on the recent holiday low of 875 the square root is 29.580 and 29.580 plus .250 is 29.830. 29.830x29.830= 889.84(889.75) pretty close to the holiday high of 889.25 before a nice pullback started. Pay around with it and youll find it a useful short term tool!