Update from previous Zone calculation linked below in 'Related Ideas'.
I left some of the recent Fib Extensions that were used to look for confluences.
All of the recent moves look to be playing the same rhythm for last month (new fibs line up with old zones).
Of note: the drops were hitting the .236 notes, while the climb was hitting .618 notes in a choppy manner.
That might indicate more bull power, maybe enough to break double top and reach for 3.618 extension of last move up.
General Info:
These zones are calculated using Fibonacci Ratios of past price moves.
Fib extensions and retracements are projected forward in time and price.
If price bounces or reverses, it will probably do so at one of these zones.
Some zones will match previous highs and lows, since Fibs are derived from the extremes.
Some zones will not match anything previous, but they are Fib multiples and THOSE are the important ones.
Zones that are far from current price will be either WIDE or just a LINE. Just a line indicates important Fib Ratio.
Where prices overlap on the zone lines, drag the Right (price) Axis up to magnify and reduce overlap vertically.
There are zones above and below the current price range, Drag the Chart up/down to see other zones.
Drag bottom axis to the left to magnify the candle size to view close up, or to the right to view larger time frame.
I will update as new zones are defined by upcoming Fibs.
I left some of the recent Fib Extensions that were used to look for confluences.
All of the recent moves look to be playing the same rhythm for last month (new fibs line up with old zones).
Of note: the drops were hitting the .236 notes, while the climb was hitting .618 notes in a choppy manner.
That might indicate more bull power, maybe enough to break double top and reach for 3.618 extension of last move up.
General Info:
These zones are calculated using Fibonacci Ratios of past price moves.
Fib extensions and retracements are projected forward in time and price.
If price bounces or reverses, it will probably do so at one of these zones.
Some zones will match previous highs and lows, since Fibs are derived from the extremes.
Some zones will not match anything previous, but they are Fib multiples and THOSE are the important ones.
Zones that are far from current price will be either WIDE or just a LINE. Just a line indicates important Fib Ratio.
Where prices overlap on the zone lines, drag the Right (price) Axis up to magnify and reduce overlap vertically.
There are zones above and below the current price range, Drag the Chart up/down to see other zones.
Drag bottom axis to the left to magnify the candle size to view close up, or to the right to view larger time frame.
I will update as new zones are defined by upcoming Fibs.
Note
Price action since this was posted: Fibs dont lie.
Where I found a lot of zones, I questioned their proximity.
Where I found wide open spaces, I wondered If I missed some.
But the price action confirms their absolute validity.
Price gets trapped in the crowded area, and then springs across the open spaces.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
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.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
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.