instructions/examples for Fibonnaci Lines

[crmcwi]

Guys, are there instructions or examples on how to best use the fibonnaci drawing tools? In a competitive product there's a recommendation to equalize the graphical representations of the time increment and price increment to form a square.

I'm a bit lost on how to use the Fib circle, for example. Please advise, thank you.

[NinjaTrader_Bertrand]

crmcwi, unfortunately I don't have a tutorial handy on this, I would suggest you google this method further. Generally you want to start the circle on a major inflection point to project the S/R circles outward...some people also run those starting from daily / weekly highs and lows which works well if you don't use them isolated, same as with any tool in the box.

[crmcwi]

thanks Bertrand.

I agree with combining tools, certainly.

I'll do as you suggest and I'll try to remember to report back if I find anything particularly cogent.

Are you familiar with Wave59? I don't want to discuss a quasi-competitor on the forum, but if you are and are willing, I would like to ask you something off line.

[NinjaTrader_Bertrand]

Thanks crmcwi, please let us know. If you like send me a PM.