Hi! I'm xtekky and this is my tutorial on how to use the Fibonacci speed retracement tool- I used Apple (AAPL) as an example to display the tutorial.
Steps:
(1) Open the fib retracement section on the left bar and select the " Fib Speed Retracement Fan"
(2) According to your trading style, select the timeframe I indicated in the chart - to begin with - you can...
Here is my take on the speed fan. This is a must have for me on my charts. Give it a try (the arrows show support while the fingers show resistances that respected the fan)
Take a look at how well the fan lines up with the candles. I cant believe how well this tool works. I put arrows on a lot of the areas that acted as support/resistance so you can clearly see this Fib speed resistance fan is useful. The way you place one on the chart is very similar to a typical fibonacci. (I put fingers pointing at the 2 points I used when I drew...
