QuantitativeExhaustion

Symmetry and Fibonacci Price Analysis

AMEX:IWM   ISHARES RUSSELL 2000 ETF
1823 14 25
This chart uses a similar methodology employed by Carolyn Boroden also known as the Fibonacci Queen. What I did was find symmetry in previous trend lines to measure out 3 Point Fibonacci Extensions. I found we had similar trends that I marked in both black and blue lines. As you can see with the new tool by Trading View, we can now measure length, bars and time with trend lines . So what I did, was measure these low-high-low intersects with the 3 Point Fibonaccci Extension tool. I use simple Fibonacci extension measures, 1.272, 1.414, 1.618, so on....

Assuming we have seen a temporary top I measured the recent high at 104.95 from the previous low in late June. My retracements numbers are a bit more uncommon, and I use Pesavento retracement numbers. After plotting the lines I only found two significant Fibonacci clusters. A cluster is where several Fibonacci lines group or cluster. Area with decent clusters are near the 104 and 103 areas. With a light retrace without breaking too far below the 103 area we could see 109 in the near future. 109-110 IWM             would equate to about a 1740 S&P             target.



Please vote to add the Trading View 3 Point Fibonacci Timing tool to find Fibonacci timing clusters https://getsatisfaction.com/tradingview/topics/3_point_fibonacci_timing_tool_used_by_fibonacci_queen
How do you measure the Symmetry on tradingview to know their the same length?
Reply
Broden is the bomb
Reply
Light Square Light Square
correction Boroden the "Fibonacci Queen"
Reply
Nice call on the top!
Reply
snapshot


overall look
Reply
heavy Resistance at 105 level for IWM
Reply
Vote for me, too! (Modified ATR Trailing Stop by Sylvain Vervoort) https://getsatisfaction.com/tradingview/topics/indicator_feature_request
Reply
I already voted
Reply
snapshot


Closer look you can find some more clustering at lower levels. 99 area is very closely clustered.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out