Bed Bath and Beyond hit important Fibonacci circle today, seems like it could be an important low because of the touchpoints since the beginning of the chart. Could be an important entry point given the accuracy of the touchpoints. This is not financial advise, please contact a financial advisor for any purchase of any share investments.
How do you decide where to anchor the fib circle? Ive played around with normal retracement fibs, and stuck them on the swing high/low - that works well with dialy candles. But the circle is a mystery to me :)
john005
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@phil3176, I start at one point and go to the other extreme, then I see if there are touchpoints on the circles, if there are, I match them and then so if other touchpoints happen, if they do, then its usually confirmation that I have the right starting and ending points for the circles. Keep in mind that they are Fibonacci based so they should be accurate if you have the touchpoints right like this chart. Another good example is the Rolls Royce chart, the touch points are very accurate, so it works well.