Fibonacci Fans!

MACD said:
Yes it does Automatically draw fibs as you have shown with your "Box" -- This is just a matter of the Settings that you as a user of the charting software selects. Understand also that the chart updates the Fibs and even sends you alerts when a Fib line (support or resistance) has been crossed or hit.
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Can you provide a link to where this system can be purchased?
 
Reason you chose a 240 min chart for this study? This time-frame aids in trading as a Position Trader, or Scalper, or Option Trades, Or ? Choice of your underlying ticker for what type of trade? Thanks
 
MACD said:
Reason you chose a 240 min chart for this study?
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I wanted to see what the source of these 1m "S/R" lines was. Had to go past the 30m to the 240m. Said 'wowsa', lol.

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Important to know why and which Fib Lines you are using on your charts. Are these "arbitrary" lines on a chart that as some would say: "Put enough Lines on a Chart and you will always see validation of using Fibs is 'Crap" ...."
 
SPY_Barchart_Interactive_Chart_01_27_2023.png

Oooohhhh loookie, all these bars which are forming straight lines!
Truely magical and mystical.
This is a profound revelation!

But Fibs are better, once every while certain number correspond, I don't know which ones, but on hindsight I can tell you.

Yes, Fibs are a wonder!
 
themickey said:
View attachment 304815
Oooohhhh loookie, all these bars which are forming straight lines!
Truely magical and mystical.
This is a profound revelation!

But Fibs are better, once every while certain number correspond, I don't know which ones, but on hindsight I can tell you.

Yes, Fibs are a wonder!
More...

Thanks for your intelligent contribution
 
Think TSLA has more room to run at the moment. I use close prices since that is where price settles for the day regardless of how high up or low down it went, so from two swing highs till most recent swing low Fibs (61.8% & 38.%) line up right underneath yesterday's bar - suggesting support. TWT
! TSLA Fibs.png
 
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