On the above chart I investigated the relationship and continuation of 'waves' within the Fibonacci Circle. Due to its incredible success, I decided to look over it again. On this chart I show very comparable formations (formation 1) (formation 2) Formation 1 is contained within 0.786, while formation 2 extends through the 1 level Applying the same Logic with...
A guide for Fib circles 1 - Draw the trendline 2 - look for areas of confluence around the circle at levels for example 0.618, 1.618, 2.618, 3.618 ... 3 - Make an assessment This is the 4Hour chart for Ethereum and isn't as reliable as using a higher timeframe, say drawing the trendlines through the entire bear market on the weekly for Ethereum would be more...
An idea regarding Fibonacci I believe the price within the arcs of the fibonacci circle move in waves With 1.618 being a bearish wave in this case, with a bullish transition to another ring. There seems to be a clear relationship between 1.618 and .618 its probably simple for someone more knowledgeable in this field which I am still learning. Explains on chart....
First of all comment if i'm doing something wrong, last thing i want to be doing is spreading misinformation. Bullish moves should be placed from peak to bottom point. Highlighted in green. While bearish moves should be places from bottom to peak point. Highlighted in orange. These can be placed on any bullish / bearish wave, as long as they 'respect' the...