How I scan for BIG winners using Fibonacci Ratios
As you can see in the chart I create 420 Period Fibonacci VWMA bands that are colored from 0 - 1.618 Fibonacci and when price action is performing normally you see those lines becoming support and resistance on and around them. The 2 lines you see traced are the special sauce which are ratios of the Fibonacci levels (secret sauce ;) ) Notice where I placed the yellow vertical line, it is right when these 2 lines marry up and before they turn from yellow to red and from green to yellow. When that happens I take my first position.
What does this all mean? It means the price has compressed to a point that to go any lower the holders would have to severely capitulate and give up. I run it on 15 minute intervals mainly for scalping but also larger intervals to get in on the near bottom of long term price action
Enjoy! Maybe. All Comments, Observations and Smart Remarks welcomed. If you get Butthurt by a comment I make I can assure you that it was quite intentional and to line up and receive a BurtHurt Report form found here www.pdffiller.c...sfiller-desk15/?projectId=... and submit it to appropriate authorities. If you make decisions based on someone else's ideas without using your own intelligence you get what you get, someone else's idea results
What does this all mean? It means the price has compressed to a point that to go any lower the holders would have to severely capitulate and give up. I run it on 15 minute intervals mainly for scalping but also larger intervals to get in on the near bottom of long term price action
Enjoy! Maybe. All Comments, Observations and Smart Remarks welcomed. If you get Butthurt by a comment I make I can assure you that it was quite intentional and to line up and receive a BurtHurt Report form found here www.pdffiller.c...sfiller-desk15/?projectId=... and submit it to appropriate authorities. If you make decisions based on someone else's ideas without using your own intelligence you get what you get, someone else's idea results
Comment:
I meant green to red :)
Comment:
the marrying up usually happens near price