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Thread: using ellipses in identifying support & resistance

  1. #1
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    using ellipses in identifying support & resistance

    About Fibonacci ellipses much has been written.
    For example
    http://www.forekc.ru/953/index_180.htm
    http://www.fibotrader.com/images/tut_en.swf
    http://divinecosmos.com/index.php?op...d=75&Itemid=36

    But, I think I found something of their own.

    Thus, a screenshot. S & P500 monthly


    Ellipse 2, I moved a little higher, so that it touched ekstremuma summer 2011

    The idea is this: the price is not only beats resonating inside the ovals in them, but there are also oval, which avoids the cost, they pushed the price. In the screenshot ovals 1 and 2, they do not let the price up. Ovals 3 and 4 are enabled (green, from good to buy them: D). Accordingly, ovals 5 and 6 - they resonate price. Let me remind you all of the ovals the same size and inclination. Drawn on the chart, based on previous price action, they should apply to the beginning of the extrema at two points (at least).
    Timeframe here-months. Just three and a green oval underneath the bottom four are the boundaries for the closing months of S&P500 for next year. Little red tick in the screenshot from previous post marked the place where in my view will seek to price in January. Next the upper oval can be drawn after the next significant peak.
    It seems that until January 2013 S&P500 months will be closed within 1070-1463. On the smaller time frames is also running (from the pink sell, from green bay)
    Good luck to you in good deeds!
    Sorry for the automatic translation

    Original post:
    http://forum.finance.ua/topic84806.h...34858#p1134858

    Ellipse 2, I moved a little higher, so that it touched ekstremuma summer 2011
    Last edited by vvalerya; 04-15-2012 at 08:11 PM.

  2. #2
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    AUD JPY H1

  3. #3
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    USDJPY H4

  4. #4
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    AUD JPY H1 Update




  5. #5
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    Do you study under Wave59 ??

  6. #6
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    No. What do you mean? This is my own view on the market. Ovals can be used in any financial instrument at any time. If you want to select a futures contract or currency pair. I will do for you review.

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    using ellipses in identifying support & resistance-3.jpg
    Update for SP

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    Last edited by vvalerya; 04-15-2012 at 08:08 PM.

  10. #10
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    Eurusd
    using ellipses in identifying support & resistance-euro.jpg

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