I was working on an idea that I am developing with @Lucyf2492. Basically, it is a 20 day period slidding Fibonacci within a 200 day period sliding Fibonacci. It helps identify local and longer-term price levels of resistance and support. I was interested in finding areas where the Fib0 line of short term 20 day exceeded the 200 day Fib 0 line since both are using a custom moving average based on Fibonacci itself. I would write out an "X" to identify those areas because they are great local markers for large upside turnarounds. When I zoomed out on the DJI 1 Day chart I noticed multiple "X"s and for the most part coincided with even larger drops in the market. They all coincided with major market crashes as a precursor except in a few case such as the 2000 dot bomb era where it had 2 in the middle. Putting this out there as information only and it is not intended for making financial decisions or advice
Nota
I meant SPX, but it does it on the DJI alsoNota
Winter is coming.
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.