Once you learn to use Fibonacci Arks, Fans and Time studies , they help to identify when to expect a turn in the price action... Here we can see mirrored movement from the 1080 high to the low and back up.
Read up on these tools and take time to plot them correctly.
Today we are in a confluence of fibs and I expect we will see the red path to play out in the next 5 days....
I also plotted out the possible up side path in case price breaks above the high of today.
Thursday, October 8, 2009
Market TAO Fib Study 10-08-09 Thurs
Posted by Neboxian at 5:15 PM
Labels: Fibonacci Time and Arc Study
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