Forex Triangles

٩ ديسمبر ٢٠٢٠

In my opinion, Fibonacci anything works very well in markets. Contrary to popular belief, support and resistance lines are not fully realized when you draw horizontal lines. You are missing a key element which is time. So when I chart currency, what I do is go to the weekly and look at the full time scale. It's a matter of then drawing the Fibonacci retracement on the full market which gives you strong price support and resistance lines. Then, you have to do some weird angle Fibonacci channels to match levels where prices rides it with time. Now you have the market drawn into triangles or a lot of diamond looking shapes. With this, you get key levels to watch out for as you move inward in time frames. It's a strange method but I've noticed it works very well.