This is a study of how I like to use the Fibonacci Speed Resistance Fan to help predict future price movement*. While it's not difficult to notice the strong connection between the fan and price movement, turning that into something tradable can be much more of a challenge. Although there are undoubtably many opportunities, this study focuses on two potentially tradable ideas:
1) Riding the new breakout and confirming when it's no longer valid
2) Anticipating a new breakout
(*Study only. I did not trade this chart)
1) Riding the new breakout and confirming when it's no longer valid
2) Anticipating a new breakout
(*Study only. I did not trade this chart)