Fibonacci Speed/Resistance Arcs: Difference between revisions
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The Fibonacci Speed/Resistance Arcs can indicate the support and resistance levels. Usually the price remains above the higher arc. If the higher arc is penetrated, prices generally fall to the lower arc, which, in many cases, becomes the support level. If prices break below the higher arc, fall to the lower arc, and then begin to rise, the lower arc becomes the resistance level. | The Fibonacci Speed/Resistance Arcs can indicate the support and resistance levels. Usually the price remains above the higher arc. If the higher arc is penetrated, prices generally fall to the lower arc, which, in many cases, becomes the support level. If prices break below the higher arc, fall to the lower arc, and then begin to rise, the lower arc becomes the resistance level. | ||
[[File:Fibonacci Speed Resistance Arcs cursor.png|thumb]] | |||
== Inserting Fibonacci Speed/Resistance Arcs == | == Inserting Fibonacci Speed/Resistance Arcs == | ||
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#* Click the '''Fibonacci Speed/Resistance Arcs''' <img src="https://www.multicharts.com/trading-software/images/7/7a/Fibonacci_SpeedResistance_Arcs_200.png" width="24"> icon on the '''Drawing''' toolbar. | #* Click the '''Fibonacci Speed/Resistance Arcs''' <img src="https://www.multicharts.com/trading-software/images/7/7a/Fibonacci_SpeedResistance_Arcs_200.png" width="24"> icon on the '''Drawing''' toolbar. | ||
#* Click the arrow next to the '''Drawing Tools''' <img src="https://www.multicharts.com/trading-software/images/f/fc/Show_Hide_Drawing_Tools.png?20240530155441" width="24"> icon on the '''Main''' toolbar, point to '''Fibonacci Tools''' and select '''Speed/Resistance Arcs'''. | #* Click the arrow next to the '''Drawing Tools''' <img src="https://www.multicharts.com/trading-software/images/f/fc/Show_Hide_Drawing_Tools.png?20240530155441" width="24"> icon on the '''Main''' toolbar, point to '''Fibonacci Tools''' and select '''Speed/Resistance Arcs'''. | ||
# The cursor will change to the Fibonacci speed/resistance arcs | # The cursor will change to the Fibonacci speed/resistance arcs <img src="https://www.multicharts.com/trading-software/images/2/2d/Fibonacci_Speed_Resistance_Arcs_cursor.png" width="24">. | ||
# In the Chart Area click where the Fibonacci Speed/Resistance Arcs are to begin. | # In the Chart Area click where the Fibonacci Speed/Resistance Arcs are to begin. | ||
# Then keeping the left mouse button pressed move the pointer up, down, left, or right to position the Fibonacci Speed/Resistance Arcs. | # Then keeping the left mouse button pressed move the pointer up, down, left, or right to position the Fibonacci Speed/Resistance Arcs. | ||
