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What is Fib Speed Resistance Fan? How to use it?A Fibonacci fan is a technical analysis charting technique that uses the Fibonacci ratio to predict support and resistance levels graphically. The Fibonacci ratio can be used to describe proportions in everything from nature's smallest building blocks, such as atoms, to the universe's most advanced patterns, such as unimaginably large celestial bodies. Nature relies on this innate proportion to maintain balance, but the financial markets appear to follow suit. Traders can use the Fibonacci fan lines to predict key points of resistance or support where price trends may reverse. Once a trader has identified patterns in a chart, he or she can use those patterns to forecast future price movements as well as future levels of support and resistance. The predictions are used by traders to time their trades. For both the price and time axes of charts, technical analyses based on Fibonacci ratios are available. Retracements can also be used by analysts to generate arcs or fans on arithmetic or logarithmic scales. Nobody seems to know whether these tools work because stock markets follow a natural pattern or because many investors use Fibonacci ratios to predict price movements, causing them to self-fulfill. In any case, key support and resistance levels at 61.8 percent tend to occur frequently on both uptrends and downtrends. Simply find the proportion of one number in the series to its neighbors to derive the three key ratios commonly used in technical analysis based on the Fibonacci series. Adjacent numbers produce the inverse of phi, or 0.618, corresponding to a 61.8 percent retracement level. Numbers two positions apart in the sequence produce a ratio of 38.2 percent, while numbers three positions apart produce a ratio of 23.6 percent. Resistance to Speed Fan lines can also be used to represent support or resistance lines. Price frequently remains above the higher speed line during an upswing. When this line is breached, prices often fall to the lower speed line, which often becomes the support level. If prices fall below the higher speed line, then climb to the lower speed line, the lower speed line becomes the resistance level. Breaking a lower speedline in a downtrend suggests a likely rise or rally to a higher speedline. If the line is broken above, the rally may continue to the top of the previous trend (or the underlying trend line).
NSE:ORIENTBELLEducation
by Kapil-Mittal
10
Solana UpdateHey everyone, Here is a short analysis on SOL, I'm still bearish. Here you can see that the price is ranging between -0.618 to 1.618 of the Fib Channel. It has been rejected by the 0 level of the Channel. To learn how to make the channel, read my previous idea through the link at the end. Forming lower lows and lower highs on the four hourly chart. Perfectly following the lines of the channels. Let's check the Pitchfork on AVAX too. It got rejected from the median line. I have marked the demand zones, they might be our targets. What TradingView says? TradingView has some awesome features which can give you technical analysis on any crypto, forex and stocks chart. Check the photo below to get an idea. This image is showing an excessive bearish pressure. This analysis is done by oscillators and MA. There is another cool feature which can give you the pivot points. How to trade pivot points? Whenever a pivot points is coming, you can set up a trade order for the opposite side at the price of the pivot points. Usually, whenever the prices hit the pivot point, they take a pullback on smaller timeframes. You can earn easy profits on these pivots. Hope you like the idea Goodbye for now, trade safe!
Short
by theTAguy
A Contracting Triangle & Fib. Retracement relationship multiples The Nifty 50 unfold the "Contracting Triangle" which is one of three occur 80% in the price chart. One thing is important to remember is that, the wave "((e))" also sub-divide into smaller triangle. Most common relationship for Fibonacci, the .618 but in this instance we have found the two fib. relationship .618 and .786. Fib. relationship: wave ((b)) at 16827 = .786 of wave ((a)) wave ((d)) at 17041 = .786 of wave ((c)) wave ((c)) at 17767 = .618 of wave ((b)) wave ((e)) at 17635 = .786 of wave ((d)) What will be the evident for downside breakout or throw? 1. The extreme wave ((b)) & ((d)) connecting trend-line in downside. 2. A throw - 17,044 breakdown on closing basis is strongest evident for sell-off. The aggressive trader can take short-side position at or nearby the "Critical Resistance at 17795" which is too far from now. For the fib. relation can perform important role as resistance wave ((e)) at 17635 = .786 of wave ((d)).
NSE:NIFTY
by Trade-Technique
36
BITCOIN 80k soon : FIB Extension & Flag-Pole theory (READ CAP) Bitcoin projected targets are 80k as per both of my theories:- 1st THEORY- FLAG & POLE - Widely used Flag Pole is basically plotted to guess further targets when an asset is at ATH . Bitcoin went into consolidation and formed a slant flag after a huge rally, here the rally is considered as a pole. So we just draw a trendline from the bottom to the top of the rally till the current consolidation phase and paste the same pole ahead of the flag. Our projected target is 80k here. This is a very simple theory. Second one is Fibonacci Extension . We plotted this from 28k to 53 where it retraced and we usually consider 0.618 as our targets which is again 80k Now that's huge and looks quite accurate. COMMENT your views HODL !
Long
by meetmoneypenny
Bandhan Bank ready to explode? Perfect Fib Setup 0.5 and 0.618 in Fibonacci is a golden zone from where price retraces so here Bandhan bank was following a trendline so to predict that pullback we used fib! We plotted Fibonacci from 165 to 423 (uptrend) and if we observe the reaction to our golden zone we can see it is a very important key zone. It broke out of Falling wedge with a nice breakout with good volumes. Since it gave a nice move after breakout so we need a minor pullback and that can happen if the price retests but 295 fib level is way too far and so I plotted Volume profile . Now it's clear, enter at POC (highest traded line) and that will be our entry point. A logical SL below 265 because what if it retests deep? We need to think like this. Targets are 350, 425 for as long we don't see a reversal in future! Get set go! HAPPY TRADING 💹 SUMMARY:- Entry only if it retests depending upon the depth i.e. best entry 309 (at POC) SL below golden fib level i.e. around 250 T1 350 T2 425
NSE:BANDHANBNKLong
by UnknownUnicorn21160479
25
Lincoln Pharma reversing?NSE:LINCOLN retraced till 23.6% FIB level and appears to be taking support now. RSI has also bounced up from 40 and is now above 50, aka in the bullish bias zone. Interestingly, the support zone is right at a previous high. Risk is limited as a failure to hold the 23.6% level or the previous high can negate the view. The pharma index, NSE:CNXPHARMA , saw good support today and RSI has bounced up from 60 which might indicate that the sector is readying for the next leg of its bull run.
NSE:LINCOLNLong
by MarketsWithKR