I was working on an idea that I am developing with @Lucyf2492. Basically, it is a 20 day period slidding Fibonacci within a 200 day period sliding Fibonacci. It helps identify local and longer-term price levels of resistance and support. I was interested in finding areas where the Fib0 line of short term 20 day exceeded the 200 day Fib 0 line since both are using a custom moving average based on Fibonacci itself. I would write out an "X" to identify those areas because they are great local markers for large upside turnarounds. When I zoomed out on the DJI 1 Day chart I noticed multiple "X"s and for the most part coincided with even larger drops in the market. They all coincided with major market crashes as a precursor except in a few case such as the 2000 dot bomb era where it had 2 in the middle. Putting this out there as information only and it is not intended for making financial decisions or advice
Nota
I meant SPX, but it does it on the DJI alsoNota
Winter is coming.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.