Hi all.
i'm a forex newbie...in my readings\research i've encountered many references to the use of fib lines\pivots\supports\resistances and confluence. I've,however, encountered very little with respect to fib arcs and fans.
I don't see any reason why fib arcs and fib fans can't be used
as a means of confirming confluence.
I'm wondering if anyone out there has used or uses fib arcs and fib fans (or even Gann squares and projections) and can shed any light on the subject of their use and in particular with respect to confluence.
onto my next question:
i also often see people using confluence with respect to the y-axis (vertical direction). can we use confluence with Gann charts and fib time series in the x-axis direction as well?
for example (and i'm completely pulling this one out of my *ss). say bollinger bands have shrunk, and this shrinking coincides with a fib time series line and\or Gann square boundary, could this considered as confluence in time (as opposed to price)? and could this potentially be used to trade?
any help would be greatly appreciated,
Phoenixe
i'm a forex newbie...in my readings\research i've encountered many references to the use of fib lines\pivots\supports\resistances and confluence. I've,however, encountered very little with respect to fib arcs and fans.
I don't see any reason why fib arcs and fib fans can't be used
as a means of confirming confluence.
I'm wondering if anyone out there has used or uses fib arcs and fib fans (or even Gann squares and projections) and can shed any light on the subject of their use and in particular with respect to confluence.
onto my next question:
i also often see people using confluence with respect to the y-axis (vertical direction). can we use confluence with Gann charts and fib time series in the x-axis direction as well?
for example (and i'm completely pulling this one out of my *ss). say bollinger bands have shrunk, and this shrinking coincides with a fib time series line and\or Gann square boundary, could this considered as confluence in time (as opposed to price)? and could this potentially be used to trade?
any help would be greatly appreciated,
Phoenixe