This is my first educational post.
This is not long or short.
This is just fib circles.
This tool is great for non-linear support and resistance.
you can also draw horizontal lines at the top of each circle to make your traditional fib extensions and retracements.
these can be used on any timeframe just like your standard linear fib ext/ret
The biggest rule of thumb is to draw this shape on a 45 degree angle.
you can check angles with the info line if a swing low to high in any area of the pa looks closed to 45 degrees.
Fib circles are magic. and colorful. and excellent for logarithmic chart.
try for yourself!
This is not long or short.
This is just fib circles.
This tool is great for non-linear support and resistance.
you can also draw horizontal lines at the top of each circle to make your traditional fib extensions and retracements.
these can be used on any timeframe just like your standard linear fib ext/ret
The biggest rule of thumb is to draw this shape on a 45 degree angle.
you can check angles with the info line if a swing low to high in any area of the pa looks closed to 45 degrees.
Fib circles are magic. and colorful. and excellent for logarithmic chart.
try for yourself!
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