This chart uses a similar methodology employed by Carolyn Boroden also known as the Fibonacci Queen. What I did was find symmetry in previous trend lines to measure out 3 Point Fibonacci Extensions. I found we had similar trends that I marked in both black and blue lines. As you can see with the new tool by Trading View, we can now measure length, bars and time with trend lines. So what I did, was measure these low-high-low intersects with the 3 Point Fibonaccci Extension tool. I use simple Fibonacci extension measures, 1.272, 1.414, 1.618, so on....
Assuming we have seen a temporary top I measured the recent high at 104.95 from the previous low in late June. My retracements numbers are a bit more uncommon, and I use Pesavento retracement numbers. After plotting the lines I only found two significant Fibonacci clusters. A cluster is where several Fibonacci lines group or cluster. Area with decent clusters are near the 104 and 103 areas. With a light retrace without breaking too far below the 103 area we could see 109 in the near future. 109-110 IWM would equate to about a 1740 S&P target.
Please vote to add the Trading View 3 Point Fibonacci Timing tool to find Fibonacci timing clusters getsatisfaction.com/...d_by_fibonacci_queen
Assuming we have seen a temporary top I measured the recent high at 104.95 from the previous low in late June. My retracements numbers are a bit more uncommon, and I use Pesavento retracement numbers. After plotting the lines I only found two significant Fibonacci clusters. A cluster is where several Fibonacci lines group or cluster. Area with decent clusters are near the 104 and 103 areas. With a light retrace without breaking too far below the 103 area we could see 109 in the near future. 109-110 IWM would equate to about a 1740 S&P target.
Please vote to add the Trading View 3 Point Fibonacci Timing tool to find Fibonacci timing clusters getsatisfaction.com/...d_by_fibonacci_queen