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Drawing Fib Lines

Drawing Fib Lines

2009-11-25 23:02:00
Richard Krivo, Trading Instructor
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Instructor's Response:

In drawing a Fib line for the most recent move to the upside, we would draw our Fib line from the Swing Low to the Swing High of the same move...see the black line on the chart below.  The corresponding Fib levels for the black Fib are noted to the right of that line.

The red Fib line begins at the Swing Low of that move (the red arrow) and continues to the top of the move, the Swing HIgh.  The Fib levels for that Fib line are noted in red to the right of the line.

Bear in mind that if this were a move to the downside, the Fib lines would origniate at the Swing High and be drawn down to the Swing Low.

chart 11 25 099

 

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