· Fibonacci channels are combination of Fibonacci levels and channels. 2 very powerful tools added combined together.
· For spotting Fibonacci channel you need to have 3 pivots on the chart.
· It is very important to see some reaction from the levels – this is showing you the prove that your pull is correct and levels are being respected.
· As always, use this tool with another level of confluence.
· I am personally using this tool on Macro TF, but I can imagine even DAY TRADING on 1H TF.