Candlesticks, Fibonacci, and Chart Pattern Trading Tools : a synergistic Strategy to Enhance Profits and Reduce Risk

Ratio
buttons.
Left-click the 
Clip
speed
button each time you
want to save a parallel
line created with a differ-
ent Fibonacci ratio.
PHI-channel support and
resistance lines can be
generated from different
PHI-channels, thus creat-
ing a cobweb of parallel
lines on the chart. On top
of the parallel line series
representing support and
resistance lines, other Fi-
bonacci trading tools can
still be overlaid.
CHARTING PHI-ELLIPSES
PHI-ellipses can have many different shapes. They can be thinner or
thicker, longer or shorter. But they will always have a basic structure
founded on the Fibonacci ratios. To get started with a PHI-ellipse, you
should look to select a signif icant high or low, and let the PHI-ellipse
envelop the left and right side of a price move.
If you want to draw a PHI-ellipse, and you need additional free space
on the right side of the PHI-ellipse to reserve enough room to show the
full PHI-ellipse, you must go to the 
Default Charting Setup
win-
dow, as introduced in the 
Selecting Data from a Data File
section.
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USER MANUAL WINPHI: GETTING STARTED
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243
Under the 
# of blank Points on right
option, enter the number of
days for which you want to allocate free space on the right side of the
chart, and checkmark the 
Leave spacing for holidays
box.
Left-click the 
P1
speed button. Move the cursor to the point in the chart
where you want the PHI-ellipse to start, then left-click the mouse.
Left-click the 
P2
speed button. Move the cursor to the point in the
chart where you want the PHI-ellipse to end, then left-click the mouse.
Click the