CHFJPY - How much Price reacts to Fibonacci?
CHFJPY.
Using Fibonacci to find extensions/targets can be a useful tool in trading if used the right way. One tool that is often ignored is the 'Trend-based Fibonacci ', which is commonly used in measuring Elliott Waves, but its use is not limited to it.
In the Elliott Wave Theory, Wave C and Wave 3 are often measured using this tool. It is different from a regular Fibonacci extension tool as it also takes into account the strength of the trend.
The post is only for educational purposes and does not provide any direction on the price.
Using Fibonacci to find extensions/targets can be a useful tool in trading if used the right way. One tool that is often ignored is the 'Trend-based Fibonacci ', which is commonly used in measuring Elliott Waves, but its use is not limited to it.
In the Elliott Wave Theory, Wave C and Wave 3 are often measured using this tool. It is different from a regular Fibonacci extension tool as it also takes into account the strength of the trend.
The post is only for educational purposes and does not provide any direction on the price.