This is the channel method on the daily chart, to correlate with the 15 minute on USDJPY. Unfortunately, it's hard to control the fib circles because the center keeps moving. On my Kyplot program I zoom in and can adjust each side of the ellipse. Once the shape fits properly I lock it's shape.
***The easy way to make an ellipse with a steady center that moves with the ellipse is to first draw a very small ellipse, center it over the key point, then draw another ellipse over top of it. I then GROUP the 2 ellipses so they move together.
This method works excellent. I have a chart in "ideas" showing ellipses on TXN, all the same "aspect" and size.
***The easy way to make an ellipse with a steady center that moves with the ellipse is to first draw a very small ellipse, center it over the key point, then draw another ellipse over top of it. I then GROUP the 2 ellipses so they move together.
This method works excellent. I have a chart in "ideas" showing ellipses on TXN, all the same "aspect" and size.
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