FIB circle appreciation post
idk if many of you guys are using fib circles in your TA, but something ive noticed is that if you measure price action from inside of a pattern thats forming, in this case the rise wedge, then you can many times use the outer bands to a pretty high degree of accuracy to anticipate volatile movements when the pattern does break. in this case we broke down from the rise wedge and rode an outer fib circle in a straight line down. i am now in the process of successfully swing trading this little possible inverse head and shoulders mini bullish reversal using fib circles, retracement and pitch fan to identify very accurate price targets. ive been stopped out once. happy trading! FIB CIRCLES!
that thick white line btw is what i see as the neckline of a massive double top we formed upon breaking down from the wedge. i see us retesting that line and probably bonking our heads before reaching further
that thick white line btw is what i see as the neckline of a massive double top we formed upon breaking down from the wedge. i see us retesting that line and probably bonking our heads before reaching further
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