Fibonacci Fan

Fibonacci fans are composed of diagonal lines. After the high and low points of the chart are located, and joined. This joining line is then divided into 38.2%, 50% and 61.8%, and lines are drawn from the leftmost point through each of these points. These lines indicate areas of support and resistance. This is again a version of Fibonacci Retracements like Fibonacci Arcs where the Retracement levels are not considered as flat levels but breaking the area in angles. Similar to Arcs it takes into account the time i.e. probability of reaching the expected Fibonacci retracement level going low with time. Fibonacci Fans (with other Fibonacci indicators) are shown in figure 13 as follows.

Fibonacci Arcs and Fibonacci Fans Example 

Fibonacci Arcs and Fans - example 13


Back to the main page of Fibonacci Retracements
 
 

Forex Trading Alerts


Name:
Email:
Confirm Email:
v62v9

We will send email alerts as soon as the Forex analysis is updated.
Request you to check the Junk (spam mail) folder immediately in case Google group mail is not received in Inbox.

Enter Forexabode Blog

Enter Forex Abode Community

Forex Rates