06 - 10. 03. 17
T1 5210
T2 4969
T3 4729
T1 5210
T2 4969
T3 4729
Note
ZOOM IN OR OUT TO ALIGN GREEN DOWNTRENDING LINES WITH FEB27/28 TOPSNote
Manipulate Zoom and the price scale in tandem to align green downtrending lines with Feb 27/28 topsNote
Two lower horizontal lines in black represent support levels. Reverse fibonacci extends from 50% (mid distance) upwards so that 0.236 extention matches 1.0521 support. 100% extention (1) is the price to enter short position. Stop loss at 1.236/272 or at strong resistance that aligns with 1.382 Progression/Regression lines are two intervals apart and are used to determine price direction to confirm fib validity. Since I can not predict the angle I take equal leg triangle (adjusted) to predict price range and crossovers.Note
Green lines are tangents of Fib Circles put on recent extremes (Low/Hi ranges). In this case they align perfectly with Feb 27/28 tops
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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.