Fibo Channel

We present to your attention one of the most difficult tools for work with Fibo numbers – Fibo Channel. To set it at the price graphics it is necessary to choose Objects - Fibo - "Fibo Channel", as shown at the pic below.

After that it is necessary to choose 3 points at the price chart, as well as for building of the regular channel. For the descending trend - the line of Fibo should be placed higher the channel, and for ascending – below, as shown at the pic bellow.

After placement of the channel at graphics it is possible to see 4 blue lines of support of the current trend. Also, unlike the standard channel we don't need to reconstruct it constantly, and only to look for the best points of entry from lines of support that we can see on the picture below.

In places where the price beat off a chanel it is possible to put horizontal levels of support and resistance and to use them when the price approaches them that will give us additional points of entry. Also it is necessary to remember that it is better to trade towards a trend.

We wish you high profit.

This graphical element can be discussed at forum