Shout out to EuroMotif for introducing me to this concept. I decided to try this out after looking at his work with fibs. I made fib retracements from the big moves in 2017 and 2020 to compare the lines from each period. The lines in white are from 2017 and the lines in blue are from 2020. The amazing thing I noticed is that the price from the 2020 impulse, as EuroMotif says, pinged some of the fib lines from the 2017 impulse. I marked those pings with blue arrows.
There was a point where fibs from each time frame overlapped nearly perfectly. I marked that area with "2x fib" near the bottom. I didn't label the fibs from the 2017 move by number to leave the chart cleaner...perhaps I'll do that next time I try this, but I'll see how it goes.
Based on the fib lines from 2017, it looks like the next ATH for ETH may be around 2291. I marked that with text and a red arrow. Will it ping there on the next move up past the current ATH? Idk, but I wanted to publish this to see...
This fib thing is pretty exciting to me, but I'm green af so I have no idea if I'm even doing this right. It looks decent to me so far, but who knows?
There was a point where fibs from each time frame overlapped nearly perfectly. I marked that area with "2x fib" near the bottom. I didn't label the fibs from the 2017 move by number to leave the chart cleaner...perhaps I'll do that next time I try this, but I'll see how it goes.
Based on the fib lines from 2017, it looks like the next ATH for ETH may be around 2291. I marked that with text and a red arrow. Will it ping there on the next move up past the current ATH? Idk, but I wanted to publish this to see...
This fib thing is pretty exciting to me, but I'm green af so I have no idea if I'm even doing this right. It looks decent to me so far, but who knows?