For what its worth....FB hit the turn date today at 10:30 coupled with an over bought 2 period RSI. I suggest we are going down to the 23.6% fib and maybe the 38.2 % fib before we head higher. The next turn date is scheduled for this Friday at 3:30pm
Comments
mycharts12
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Fibonacci Time Zones are vertical lines based on the Fibonacci Sequence. These lines extend along the X axis (date axis) as a mechanism to forecast reversals based on elapsed time.The slow start in the Fibonacci sequence creates relatively tight clustering at the beginning of the Fibonacci Time Zones. Sometimes, it is necessary to ignore the first 5 or so time zones. After the first five zones, these zones expand quite quickly as the sequence unfolds. According to the theory, potential reversal points can be found by looking ahead 21, 34, 55, 89 and 144 days
mycharts12
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Fib. time sequence based on a 60 min. projection
iseethelight
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What do you mean by "turn date" please? Thank you.