great chart, how do you determine the proper price to bar ratio for fib spiral?
TreeTruffle
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@AshLake, yeah, good question. sometimes you find the right candle and the extension of the spiral aligns w 3++ candles easy. Other times, I'll get 2 bars to align with. The more bars you have resonance/aigning w then the more significance/strength the fib spiral has. Also, you have to lock the scale for when you want to maintain the spiral's integrity.
lately, I've been getting heavy into the non-linear charting using fib spirals and arcs. It's great stuff. But yeah, just another diagnostic tool to find confluence with price action.
Hope that helps. The trader that really gave me the a-ha about using fib spirals is named BitComRat. Check his charts out. :)
AshLake
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@TreeTruffle, spirals and arcs are hard to master, I think they are more of an art, beautiful in form and powerful in prediction.
so far I've tried many different price-bar ratios on the spiral, including pi, fib numbers and ratios, but none of these ratios can consistently produce well aligning spirals across time and assets. I'll try your 3++ rule and see how it goes.
Thanks a lot, please keep sharing your beautiful charts :P