Those Fib Time Zones are amazing Pennies. You should mess around with placing multiple FTZ's (Yes I'm coining the term to save from typing it over and over) from different time frames and watch the areas where you have a confluence of FTZ's. These would be high probability reversal points. I'll see if I can come up with a few charts and post them either tonight or tomorrow.
I remember finding an indicator on Forex-TSD called QTA or Quick Time Analyzer I think that plots zigzags in an indicator window of the current swings and also plots FTZ's using these swings. I messed with it a bit but could never figure it out. Just do a search for QTA at Forex-TSD and I'm sure you'll find it. I didn't find much documentation on it though.
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