The RED lines are the triple fib fans.
I did not "make this fit"...!!!! In fact, I intentionally moved the yellow line a little higher because it nearly overlapped the red fib fan, making it hard to see.
I simply chose the initial uptrend before the first consolodation as the basis for the fib fans (signified by dotted red line).
THIS CAN PROVE VERY SIGNIFICANT.
No guarantees but the penetration of the third fib trendline (or any third tredline) generally results in a reversal and marks the end of the previous trend (in this case up)
I was tinkering with this yesterday and saw no correlations... but a day can change anything. We do have multiple conflicting signals, technically we are still in daily uptrend, BUT THIS FIB FAN BREAK COULD BE SIGNIFICANT.
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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