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fibonacci channel

  • #1
  • First Post: Apr 30, 2007 8:17pm Apr 30, 2007 8:17pm
i noticed on meta trader that there is a tool called fibonacci channel. to me it looks like a trending fibo expansion tool. anyone ever use this and if so whats your take on it and whats your settings?
  • #2
  • Last Post: May 1, 2007 8:42am May 1, 2007 8:42am
Fibonacci channel can be used successfully with Fibo Retracement and the intersection of those lines represent strong support or resistance levels.

The channel is formed in UP Trend between 2 or more bottoms and in DOWN Trend is formed between 2 or more tops.
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