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

Clip
speed button,
you can overlay on the chart another PHI-spiral by clicking the 
P1
speed button, moving the cursor to the new 
Center
of the second PHI-
spiral, and left-clicking on the chart. For the new 
Starting point
of
the second PHI-spiral, click the 
P2
speed button, move the cursor
right to the new 
Starting point,
and click on the chart with the left
mouse button. Left-click the 
Draw
speed button, and the second PHI-
spiral will appear on the chart.
CHARTING FIBONACCI TIME GOAL ANALYSIS
The Fibonacci time goal analysis is an analysis for trend reversals in
time. The WINPHI program can draw the time lines from any high or
low in the price chart. The goal is to look for time bands, calculated
from highs—highs and lows—lows. It is preferable to work with the
ratios 0.618, 1.000, and 1.618, but the more advanced Fibonacci trader
will learn how to work also with higher ratios.
Click the 
P1
speed button to mark the 
Low
(or the 
High
). Move the
cursor to the 
Low
of choice in the chart and left-click.
Click the 
P2
speed button to mark the second 
Low
(or the second
High
). Move the cursor to the second 
Low
of choice in the chart and
left-click.
Click the 
Draw
speed button with the right mouse button. Click with
the left mouse button on 
Time Goal Analysis
from the list of trading
bapp.qxd 6/17/03 7:56 AM Page 246

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USER MANUAL WINPHI: GETTING STARTED
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