Hey,
My chart getting a little more developed. By using the Volume Profile and OBV, I've identified my "Volume Box". It tells me a lot about the history of the chart, and when the action happened. This chart has approached the bottom of the bullish fibonacci channel, and what happened? Stacked candles on longer timeframes, and a ramp up in the On Balance Volume. I don't like to see a volume profile shelf below. I prefer to see a nice, round bell curve in the VPVR, before the prices moves either up or down to its next price range. But, in this case, we're at the bottom of the fib channel with stacked candles indicating reversal, and we have a descending overhead , which is what has pushed us to the bottom of the fib channel, and upon clearing that descending overhead, the price is looking for relief. Ripple can pump. You know the story. It's "Ripple" in my brokerage account. The potential of this ticker is within the bullish fib channel ahead, and a good general rule of thumb, in stocks, is to look to the .618 as the target. That's just the first page of the complete fib theory that I've developed. But it gives you a taster. Each fib level provides its own guidance, so it's guru-free.
My chart getting a little more developed. By using the Volume Profile and OBV, I've identified my "Volume Box". It tells me a lot about the history of the chart, and when the action happened. This chart has approached the bottom of the bullish fibonacci channel, and what happened? Stacked candles on longer timeframes, and a ramp up in the On Balance Volume. I don't like to see a volume profile shelf below. I prefer to see a nice, round bell curve in the VPVR, before the prices moves either up or down to its next price range. But, in this case, we're at the bottom of the fib channel with stacked candles indicating reversal, and we have a descending overhead , which is what has pushed us to the bottom of the fib channel, and upon clearing that descending overhead, the price is looking for relief. Ripple can pump. You know the story. It's "Ripple" in my brokerage account. The potential of this ticker is within the bullish fib channel ahead, and a good general rule of thumb, in stocks, is to look to the .618 as the target. That's just the first page of the complete fib theory that I've developed. But it gives you a taster. Each fib level provides its own guidance, so it's guru-free.
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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.