Replies to post #2544856 on STOCK GOODIES PLAYS OF THE WEEK

[Nilbud]

Fibonacci Pivot Points

Fibonacci Pivot Points start just the same as Standard Pivot Points. From the base Pivot Point, Fibonacci multiples of the high-low differential are added to form resistance levels and subtracted to form support levels.


Pivot Point (P) = (High + Low + Close)/3

Support 1 (S1) = P - {.382 * (High - Low)}

Support 2 (S2) = P - {.618 * (High - Low)}

Support 3 (S3) = P - {1 * (High - Low)}

Resistance 1 (R1) = P + {.382 * (High - Low)}

Resistance 2 (R2) = P + {.618 * (High - Low)}

Resistance 3 (R3) = P + {1 * (High - Low)}

The chart below shows the Dow Industrials SPDR (DIA) with Fibonacci Pivot Points on a 15 minute chart. R1 and S1 are based on 38.2%. R2 and S2 are based on 61.8%. R3 and S3 are based on 100%.