Lets have some fun!
Ok, A B C - Fib channel pulled from A to B to C.
Flat parallel channel pulled from the obvious range high to low. Dotted white line 0.5 (mid way).
Standard fibs:
0.383 to 0.618 resistance.
Look back. -> What was resistance now will = support and visa versa.
And
Current 0.236 seems we've broken out and up so taking it as breaking a level of resistance into an uptrend!
And parallel channel 0.5, were above...
Fib based channel I learned from Chart Champions. <3
Just an idea.
Ok, A B C - Fib channel pulled from A to B to C.
Flat parallel channel pulled from the obvious range high to low. Dotted white line 0.5 (mid way).
Standard fibs:
0.383 to 0.618 resistance.
Look back. -> What was resistance now will = support and visa versa.
And
Current 0.236 seems we've broken out and up so taking it as breaking a level of resistance into an uptrend!
And parallel channel 0.5, were above...
Fib based channel I learned from Chart Champions. <3
Just an idea.
Order cancelled
Too short term time frame for Fib Channel. Eh maybe something can be taken from this if performing some analysis. Let me know if you find anything but I think ultimately , fib channels work better on larger time frames. Update on larger time frame:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.