Walter Bressert Futures OnLine
ProfitTrader� Fibonacci Retracements

ProfitTrader� FIBONACCI RETRACEMENTS
In both rising and declining markets prices often make Fibonacci Retracements. Tied to the timing of cycles or swings, these retracements become significant price levels of support or resistance that are frequently followed by a cycle turning point and mechanical entry signal.

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Chart 13 - Fibonacci Retracements - The colored dots show the Fibonacci Retracement levels on the chart. The actual retracement numbers show in the Data Window when the crosshairs are clicked below or over the Fibonacci dots.
 

Chart 13 - ProfitTrader� automatically calculates four Fibonacci Retracement levels for cycles and high amplitude swings. The Fibonacci levels are indicated by four colored dots on the chart. Simply click the crosshairs over the colored dots, and the exact prices of the Fibonacci retracements show in the Data Window.

 

Next: Cycle Points identify cycle highs and cycle lows.

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