Differences

This shows you the differences between two versions of the page.

--- chart_analysis:fibonacci_time_zones [2019/09/07 00:06]
betseyp [SharpCharts]
+++ chart_analysis:fibonacci_time_zones [2023/09/15 23:03]
jayanthi [Introduction]
@@ Line 1: / Line 1: @@
 ====== Fibonacci Time Zones ======
-===== Introduction =====
+===== What Are Fibonacci Time Zones? =====
+Fibonacci Time Zones are a technical analysis tool designed to identify potential areas of price reversal using the Fibonacci sequence. The tool draws vertical lines to the right at each Fibonacci ratio, most commonly 23.6%, 38.2%, 50%, 61.8%, and 78.6%, based on significant swing highs and lows.
+These lines extend along the date axis, marking expected intervals where reversals might occur based on the time that has passed. While the starting point often comes from a major low or high, the distances between these zones start relatively small and grow in accordance with the Fibonacci Sequence. Though not always pinpoint accurate, Fibonacci Time Zones are a valuable forecasting tool for anticipating potential price reversal points.
-Fibonacci Time Zones are vertical lines based on the Fibonacci Sequence. These lines extend along the X axis (date axis) as a mechanism to forecast reversals based on elapsed time. A major low or high is often chosen as the starting point. Distances start relatively small and grow as the Fibonacci Sequence extends. Chartists can extend the Fibonacci Time Zones into the future to anticipate potential reversal points.
 ===== The Sequence and Ratios =====