The Fibonacci Fan produces trend lines of support and resistance based on Fibonacci Retracement Ratio levels
This drawing tool is often used on HTF.
These fan lines can be used to estimate support and resistance levels, as well adding to other confluence factors.
Time Stamps
2:10 – THETA Previous COTW (DO NOT TRADE THIS)
10:15 – FIBONACCI SPEED FAN
- Good for determining when the slope of the move has become overextended and a good time + angle of retracement taken
- Best on 4H+ TF
- Very good for timing entry
- Fib fan + Fib time + Fib retracement = God mode
- Daniel uses this tool on every macro chart
- As with other Fib tools, you can select different pivots
- If the price breaks 0.75 price will likely move to the high (trade level to level, probabilities)
40:00 – RANDOM EXAMPLES + Q&A
- When the decline is very fast fib fan is not helpful
59:10 – TRADING VIEW MISTAKE
1:06:40 – BTC TA and Q&A