Fibonacci Confluence

Discussion in 'Technical Analysis' started by larrybf, Apr 15, 2004.

  1. I use fibonacci i levels in my trading.... i like to find confluence in at least two time frames.... i look at 5 min,,, 30 min .... and the daily chart.... ANYBODY else have any feedback.... good or bad.... regarding my timeframe choices?????
  2. buster




    I have had good luck with 10 minute, 60 minute, and Daily charts, but I think that the important aspect of this kind of analysis is getting overlapping fibs from major levels – ex. Take a look at the 60 minute NQ chart - Retracements from the lows of 3/30 to the highs of 4/05 with a overlapping retracement of 3/23 to the highs of 4/05 – this gives you a support zone from 1461 (.618 of the smaller move) to 1457 (.382 of the larger move) – You match that up with a little flat-line support/resistance, your stochs, and now you’re cooking with Wesson.