Three Point Retracement Fibonacci Pattern
30 of November, 2010
by, Raghee Horner Fibonacci patterns offer the advantage of identifying those unique support and resistance levels that may not be obvious on a chart. The Three Point Retracement Fibonacci pattern, represented here on the NYA.X 30 minute chart is a three point pattern designed to help find a high touch point which leads to a [...]
The ABCD Fibonacci Pattern
29 of November, 2010
by, Raghee Horner Fibonacci patterns offer the advantage of identifying unique support and resistance levels which may not be obvious on a chart. These levels are determined by the Fibonacci sequence therefore their relevance comes from the fact that the Fibonacci series is a mathematical law of nature, not just the markets. Fibonacci can be [...]
Three Point Extension
28 of November, 2010
By: James A. Hyerczyk Technical Analysts and traders often clash because the former is sometimes accused of living in a fantasy world while the trader lives in the real world. One branch of technical analysis known as the Elliott Wave Theory attempts to use wave patterns to project where the market can move to next [...]
Three Drive
27 of November, 2010
By: James A. Hyerczyk Excuse us for getting technical for a minute but this may be the easiest way to describe a Three Drive pattern before showing the chart examples. The general nature of price action is either a three-wave or a five-wave structure. Using a piece of this principle it is possible to identify [...]
The Benefits of Fibonacci Patterns for Identifying Support and Resistance
26 of November, 2010
By: James A. Hyerczyk Autochartist identifies four different Fibonacci Patterns: ABCD, 3 Drive, 3 Point Retracement and the 3 Point Extension. One major benefit is having a program identify and calculate the patterns. Hours can be spent trying to determine whether a chart pattern taking place is adhering to the generally accepted Fibonacci Patterns. Even [...]