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Fibonacci Spirals - How to use them in daily trading
Thanks, For some reason (or no reason) I thought of combining spiral with PF chart and composite volume profile for swing trading but looks like I can't do it in my platform i.e Multicharts. TOS have sprial and volume profile but doesn't have PF capability. I will try to set it up in TOS and watch for few days. Thanks for introducing.
As we had interesting movements in the DAX last week I decided to give an insight on the ominous 3 lines shown in my last charts.
It is about the "Fibonacci Fan" which shows support and resistance LINES (not levels).
Annotation: those lines do …
Everyone is very polite , looks very subjective to me > trying to keep open mind but my logical mind is struggling , How do we make money from this , it all seems hindsite'y' and as we know old Harry Hindsite is the worlds best trader . If i could see some setups and trades in advance based on these " spirals " i might be a little more convinced . Due to what appears subjectiveness of this i cant see this as quantifiable , if i am wrong happy to be corrected . If you make coin from these concepts thats fantastic , I'm just failing to see how . Just my opinion but i cant see random lines doing any worse
