1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 33/61.80%
Chart time frame : B A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years)
Stock progress : A A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the bottom D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
Why cant someone make an indicator that can identify these setups?
MyCryptoParadise_Nathan
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Your commitment to educating others is commendable. Thanks for the dedication.
BenBethelAZ
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Thank you for this.... I think 33.53 is a good entry, as it may only dip to 33.16 or so. Also, seems that large order blocks are going in so perhaps $34.16 will see a bit of a bounce? Once testing is completed to use pilots on the ground as-needed (take-off, landing, other technical situations), we could be seeing a day where one remote pilot is able to handle the needs of 50 planes and future planes can be built without cockpits... sounds far-fetched, but this could be a reality in 4-7 years, and current pilot shortages means there's a huge drive to make this happen. Far lower costs, more seats, lighter planes = vastly increased profit and much lower flight prices.
BenBethelAZ
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@BenBethelAZ, it seems that I wasn't far off and it hit a low of 33.31... we're now going to see this ride up... we're on the way up to 44. Great options trading on DAL, start looking at February and March... you could open some cheap 45s, then close out or just create a spread by selling covered calls for a zero cost spread... or even a net credit spread.