Just a tiny overview with our fibs short term, longterm and mixed to find highs/ lows and in-betweens. I believe we will go down but, that is not what this about.
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a big mess to start so lets clean it up a bit Note
this is our minor scale fib it's in a very small tf 1-9 days . 2-18 candles in this case. few things to take note of the 1.236 retracements nailed the bottom 7.4k range. The bigger thing is the 0.3818 on the bounce back rejected on Mr 0.3818..... let's go into more examples.Note
we now have our bigger timeframe of about 96 candles or 48 days. I usually prefer the fibs for longer time zones mixed with low time frames to cross-reference signal zones. like our or small timeframe the top was rejected very strongly from our 0.3818. we didn't nail the bottom it was within range on the 1.0 but, I don't like 1.0 zones so that would not be a strong signal without our small timeframe to buy in this trade setup.
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just something id like to share as it helped me nail most long trend tops on bitcoin and other coins and i rarely see people using it and if the trend follows we may seem a test of 6.8k in our future maybe not. happy trading
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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.