Lesson 7 of 8
In Progress

Fibonacci Speedfan

·  Fibonacci speed fan is used for determining if the slope of the move is overextended or not.

·  Can be used for determining time and angle of a retracement.

·  Fibonacci Fan in confluence with Fibonacci Time and Fibonacci Retracement is really powerful

·  Fibonacci Fan tool requires 2 pivots like Fibonacci Retracement tool, on the low of the move and on the high of the move (in case of an upward move)

·  The main use of Fibonacci Fan is to find support and resistance levels on the macro time frame (4h+)