Normal
I've been testing what I call Fib Boxes (Fib = Fibonacci, . . . no surprises!!). I dont know why they work, but check out the blue arrows on CHART 1. Notice how price rountinely finds support or resistance at the Fib Box.Now they are not perfect nor are they designed to be used in isolation, but you might find them useful as "further evidence". One way I've been testing and using them is to see if one of these boxes shows up where my chart is showing an area of key support or resistance, eg. significant high or low. But this is just one example, there are many ways Fib Boxes might be used.I dont think many software packages have the ability to draw Fib Boxes, but they are actually quite easy to calculate and insert yourself. If you are interested in testing the Fib Box for yourself, CHART 2, 3 and 4 will show you how to do it.JA
I've been testing what I call Fib Boxes (Fib = Fibonacci, . . . no surprises!!).
I dont know why they work, but check out the blue arrows on CHART 1. Notice how price rountinely finds support or resistance at the Fib Box.
Now they are not perfect nor are they designed to be used in isolation, but you might find them useful as "further evidence".
One way I've been testing and using them is to see if one of these boxes shows up where my chart is showing an area of key support or resistance, eg. significant high or low. But this is just one example, there are many ways Fib Boxes might be used.
I dont think many software packages have the ability to draw Fib Boxes, but they are actually quite easy to calculate and insert yourself.
If you are interested in testing the Fib Box for yourself, CHART 2, 3 and 4 will show you how to do it.
JA
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