Lets have some fun!
Ok, A B C - Fib channel pulled from A to B to C.
Flat parallel channel pulled from the obvious range high to low. Dotted white line 0.5 (mid way).
Standard fibs:
0.383 to 0.618 resistance.
Look back. -> What was resistance now will = support and visa versa.
And
Current 0.236 seems we've broken out and up so taking it as breaking a level of resistance into an uptrend!
And parallel channel 0.5, were above...
Fib based channel I learned from Chart Champions. <3
Just an idea.
Ok, A B C - Fib channel pulled from A to B to C.
Flat parallel channel pulled from the obvious range high to low. Dotted white line 0.5 (mid way).
Standard fibs:
0.383 to 0.618 resistance.
Look back. -> What was resistance now will = support and visa versa.
And
Current 0.236 seems we've broken out and up so taking it as breaking a level of resistance into an uptrend!
And parallel channel 0.5, were above...
Fib based channel I learned from Chart Champions. <3
Just an idea.
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Too short term time frame for Fib Channel. Eh maybe something can be taken from this if performing some analysis. Let me know if you find anything but I think ultimately , fib channels work better on larger time frames. Update on larger time frame:
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