The classic approach to support-resistance levels is the 33% -50% -66% 1 / 3,1 / 2,2 / 3 precursor movement, but the best levels in the forex due to the high precision it requires are
23,6% β ???? 38,2% β ???? 50% β ???? 61,8% β ???? 78,6% β ???? 88,6% (most extensions will be used and tested in harmonic trading)
Let's see an illustrative example of possible resistances through the fibo levels that the value will find in trying to reverse the previous downward trend.
Let's look at the reverse example after the rise
In our opinion in no case do they constitute a regular trading plan unless they are combined with other technical analysis elements.
The ventilator? FIBO
is a tool similar to classic fibo but can also be considered as a support line b ???? levels with resistance
add the 23,6% 78,6% 88,6% levels (MT4 only has 3 presets), when the classic fibo levels coincide with the fibo fan levels we have an additional confirmation
Let's see yet another example with a fan and a classic fibo at the same time
example in euro dollar-EURUSD DAILY CHART.
if at the same time with the reset fibo we pull from the neck to the high (or upside down) the fibo fan we have additional information along with the main channels we have on the levels of support resistors.
is let's say "an invisible trend line or the fibo fan lines".
add both levels 23,6 (0.236) and 88,2 (xNUMX)
the default setting is 0.382 0.50 0.618
I think that when they coincide with trend lines and fibo levels right there we have one more confirmation additionally and in fact "invisible" ...
Last edited:
