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.
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
1 min chart LOL, but notice the price action.Sometimes I wonder if I have too many zones.
Then examples like this make me put them on as I see them
Notice the delicate dance between the two zones close to each other.
Then a sudden drop, to the next zone down.
interestingly, bulls bounced it 2 cents above the zone.
If it bounce back up to the zones above and keeps going, that is a good clue of a temporary reversal.
If it peters out and comes back to the zone below, I expect that lower zone to break next time.
Note
Looks like we are headed back up to the zones aboveBy this time, I have been checking possible fibs.
Question is, WHERE to draw the fib?
Like the PURPLE one or the ORANGE one?
They both look viable, and the pin bars between the Purple .705 and the Orange .618 seem to indicate a couple of frequencies at work.
Regards, that Red zone (temporay) is now by threshold. Does price stay under or not?
Note
My last chart pic above definitely caught the local top.Now Oil is stepping down through the zones.
But notice that one lonely little line at 65.20 held it just now, even though it was heavily traversed earlier in day. (low volume now, but shows how each resonance is always playing part, just a question of how big the flood is
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
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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.