Legacy Rickonacci
1. Draw a bull trendline on the main trend.
2. Draw a bear trendline on the main trend.
3. Map them with 2 fib channels for bear/bull in the direction of the price.
4. Play with the angle, play with the position where you place the fib channels till you see it fit like a glove between major breakouts of price on the fractals OR support/resistance.
This will allow you to predict future support, resistance and volatility. Eventually price will break your TA, this is when you rethink if there's a new dominant trend. Or just think why it's going different at all, try to solve it with modifications.
Bonus: I personally always applied fib circles on top of it, because it explains the randomness in between for me. Fib circles are a lot harder to place and requires a lot of puzzling to make them fit. In general, i try to map the core of the entire bull and bear trend and fit the bull moves to determine the bear breakdowns.
ps. Can you spot the best trade predicted from the original drawing of the channels and fib circles? Knowing how to chart it is 1, knowing how to trade it is another story! But this chart made a monster trade available for you.
Goodluck,
Gojira
2. Draw a bear trendline on the main trend.
3. Map them with 2 fib channels for bear/bull in the direction of the price.
4. Play with the angle, play with the position where you place the fib channels till you see it fit like a glove between major breakouts of price on the fractals OR support/resistance.
This will allow you to predict future support, resistance and volatility. Eventually price will break your TA, this is when you rethink if there's a new dominant trend. Or just think why it's going different at all, try to solve it with modifications.
Bonus: I personally always applied fib circles on top of it, because it explains the randomness in between for me. Fib circles are a lot harder to place and requires a lot of puzzling to make them fit. In general, i try to map the core of the entire bull and bear trend and fit the bull moves to determine the bear breakdowns.
ps. Can you spot the best trade predicted from the original drawing of the channels and fib circles? Knowing how to chart it is 1, knowing how to trade it is another story! But this chart made a monster trade available for you.
Goodluck,
Gojira
Note
Check out the next post, i adjusted the girds a little bit a few hours later but i couldn't edit the post.Note
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.