FX:NAS100 NASDAQ 100 index of US listed shares
New buying has been rejected last week - as we can see in this candle - , but it is still holding up a bit. Patience is rewarded as my Grandmom used to say :-)
This is a good idea. You've used fib levels combined with trendlines. A lot of people try point to point prediction with no secondary backup like a trendline. When I used to play options I found it helped to use a curve. I also added a limit curve to the right of it as a breakthrough. Stocks, currencies, etc. all have similar movement. When an instrument is approaching it's low or high it USUALLY increases speed. That's why I like the way your trendlines are increasing speed with the new rates of speed in the data. I find arcs are excellent when the scale is set to match them. They can be very precised. I try to set the chart for as many direct swing arcs (2 points hit on one arc) as possible. I stick to only 2 or 3 ratios. My favorites are .874 and 1 and the inverse of .874 ...1.144. It's always good to have a safety backup when precise point to point is not working..like trendlines that increase speed or even lay off in speed with the data.