Today we delve into the fascinating world of Fibonacci Channels, a powerful tool for traders looking to identify potential non-horizontal support and resistance levels in the market.
Throughout the video, we provide a step-by-step guide on how to place Fibonacci Channels on price charts, allowing you to visualize and understand their significance in identifying...
initially the setup hadn't developed yet, so I pulled from current resistance down to support, checked overhead and to the left price history for confluence with the idea, and sure enough price action is respecting them on the money. As the chart develops I will reset the fibs to what ever the larger chart pattern begins to form.