I have two Fibonacci's indicators coming from an overall study. One, from the a macro analysis perspective and another one from the past 2 months (this study here). The 61.8% break, which is the phi number for Fibonacci, coincide and meet at the blue asterisk shown in graph. The butterfly trend gives me an idea of how the stock behaved last month and how it will potentially behave next week and the rest of October. If you're trying to buy right this stock I suggest you wait. I also use 1m, 3m, 5m, 15m, 1hr studies—along with volume, volatility and buy/sell signals—in order for me to make my waiting decision. I will wait until it drops, I will buy at the 78.6% Fibonacci indicator, and then wait to see how the market behaves. If stocks start dropping at point B of second butterfly, i will sell, and confirm with another study to buy at the asterisk point. If stocks go up past the B point, I will make a new study to see when I decide to sell next. This can be an opportunity for both investors and day trades.
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I have two Fibonacci's indicators coming from an overall study. One, from a macro analysis perspective and another one from shorter term perspective— the past 2 months (this study here). The 61.8% break, which is the phi number for Fibonacci, coincide and meet at the blue asterisk shown in graph. The butterfly trend gives me an idea of how the stock behaved last month and how it will potentially behave next week and the rest of October. If you're trying to buy right this stock I suggest you wait. I also use 1m, 3 m, 5m, 15m, 1hr studies—along with volume , volatility and buy/sell signals—in order for me to make my waiting decision. I will wait until it drops, I will buy at the 78.6% Fibonacci indicator, and then wait to see how the market behaves. If stocks start dropping at point B of second butterfly , i will sell, and confirm with another study to buy at the asterisk point. If stocks go up past the B point, I will make a new study to see when I decide to sell next. This can be an opportunity for both investors and day trades.