✊ Support and Resistance: support and resistance trading, fibonacci pric...

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Indicators:
EMA 3 (blue)
EMA 20 (yellow)
EMA 50 (orange)
EMA 100 (red)
EMA 200 (purple)

Bollinger Band Period 20 Deviation 2 (green)
Bollinger Band Period 20 Deviation 1 (white)

Trading Breakouts. One of the best ways to make profit while trading is by predicting price breakouts. With Fibonacci retracements and extensions breakouts can be accurately predicated and when a trader uses an additional indicator to provide supplementary evidence they can be certain when a breakout will occur. In an uptrend, the general idea is to take profits on a long trade at a Fibonacci Price Extension Level. You determine the Fibonacci extension levels by using three mouse clicks. First, click on a significant Swing Low, then drag your cursor and click on the most recent Swing High.

Fibonacci Price Projections. Traders use Fibonacci Price Projections (also called “Extensions”) in a similar manner as Fibonacci Retracements, but they are looking to project where price will travel upwards to hit resistance (in an uptrend) rather than find where price will find support via retracements. The Golden ratio is a special number found by dividing a line into two parts so that the longer part divided by the smaller part is also equal to the whole length divided by the longer part. It is often symbolized using phi, after the 21st letter of the Greek alphabet.

Support and resistance. In stock market technical analysis, support and resistance is a concept that the movement of the price of a security will tend to stop and reverse at certain predetermined price levels. These levels are denoted by multiple touches of price without a breakthrough of the level. In technical analysis, a Fibonacci retracement is created by taking two extreme points (usually a major peak and trough) on a stock chart and dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%.

The most basic use of Fibonacci fan (or just fibo fan) is to mark out lines of support and resistance within a trend channel. To set up the indicator you simply mark two points on a forming trend. Fan lines drawn by the indicator then show “zones” where support or resistance is likely to occur. Gann Fans are technical analysis tools which were developed by the famous 20th century technical analyst W.D. A Gann fan is comprised of a series of nine diagonal lines called Gann angles. These angles are drawn over a price chart, designed to show different support and resistance levels of a financial instrument.