Some of the zones near current price have changed.
Here is my last analysis, which proved pretty accurate:
These zones are calculated using Fibonacci Ratios of past price moves.
Fib extensions and retracements are projected forward in time and price.
If price bounces or reverses, it will probably do so at one of these zones.
Some zones will match previous highs and lows, since Fibs are derived from the extremes.
Some zones will not match anything previous, but they are Fib multiples and THOSE are the important ones.
Zones that are far from current price will be either WIDE or just a LINE. Just a line indicates important Fib Ratio.
Where prices overlap on the zone lines, drag the Right (price) Axis up to magnify and reduce overlap vertically.
There are zones above and below the current price range, Drag the Chart up/down to see other zones.
Drag bottom axis to the left to magnify the candle size to view close up, or to the right to view larger time frame.
I will update as new zones are defined by upcoming Fibs.
Interestingly at 9am EST on a USA Holiday! (July 4th)
I have been meaning to post updated zones soon, but all the zones are still looking quite valid, and many have been reinforced with new Fibs that also lined up a the existing zones. So will post a new chart when the rhythm changes
I have no idea.
The price points seem random (not round numbers).
Maybe some were Pivot Points (traditional, camarilla, etc)
Maybe some hit certain EMA, MA, Bollinger, Trendlines, etc.
What I DO know is that the Fibs from past moves told me they would be important. As if the grand summation of all the reasons is defined purely buy the Golden Ratio?
Recent Price moves are still in prefect rhythm with established frequencies.
In this snap, the grey zones are same as original chart.
I added two fib extension ladders in Blue.
Notice the perfect sync of the fib on left, and pretty good sync of smaller fib on right.
1 minute chart showing perfect recognition of a fib zone.
$7453.95? why that number? no idea. But the Fibs said it was relevant.
There were two separate ''impulse forces'' applied at two different times (two pebbles that fell in water).
Each pebble drop created ripples (fib extensions) that rang upward.
Wherever the ripples align (cluster) that is where the maximum energy should be.
But second bounce will have weekend it quite a bit, probably fail next touch.
Now broke down through a thick zone, and ended up bouncing as the support zone below.
Vertically blown up shot including my fibs drawn 2 weeks ago and new fibs since
When I plotted those two zones right next to each other, I really wondered if that made any sense. Well, apparently it did.
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I am not aware of any books or resources that focus on how *I* use fibs, but there is a lot of literature out there on Fibonacci or ''Golden Ratio''.
My calculations are basically looking at fib lines (retracement as well as extension lines) and looking for clusters of important lines or ''bands''.
The more I do this, the more convinced I am that all assets have a ''natural frequency''.
And just like sound or water waves, when the different waves overlap, things happen!
Glad to hear you find it useful, as I certainly do.
I use the zones as decision points. Not necessarily assuming a turn, but IF it is going to turn, it will PROBABLY do so at a Fib Zone....