Speedlines are a technical tool that uses the principle of 1/3's (Fibonacci %s) based on the previous uptrend or downtrend.
Price is measured at the peak of the uptrend by drawing a trendline connecting at least 2 points.
Once The trendline is broken the next correction or break should occur at the next price point equivalent to 1/3 the distance traveled.
(258 pips /3 = ~80 pips)
Each trendline will be drawn/ adjusted from the origination of the trend(baseline).
The trendlines should intersect at the value shown = to 1/3 the distance traveled in the prior trend.
Price is measured at the peak of the uptrend by drawing a trendline connecting at least 2 points.
Once The trendline is broken the next correction or break should occur at the next price point equivalent to 1/3 the distance traveled.
(258 pips /3 = ~80 pips)
Each trendline will be drawn/ adjusted from the origination of the trend(baseline).
The trendlines should intersect at the value shown = to 1/3 the distance traveled in the prior trend.
Coach J
