LS = Left shoulder
H = Head
RS = Right shoulder
Just using the Fibonacci circle and establishing support areas, resistance areas, this head and shoulders pattern can be identified
Without the circle, this pattern is very difficult to identify
The main challenge using the circle is identifying the strongest trend. (Green line)
Here is my guide to using the Fib Circle, it truly is a great tool
Also my experimental idea - Fibonacci waves
H = Head
RS = Right shoulder
Just using the Fibonacci circle and establishing support areas, resistance areas, this head and shoulders pattern can be identified
Without the circle, this pattern is very difficult to identify
The main challenge using the circle is identifying the strongest trend. (Green line)
Here is my guide to using the Fib Circle, it truly is a great tool
Also my experimental idea - Fibonacci waves
Note
Areas of support in Green, Resistance areas in Red
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.