N Rothschild
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try the articles section at the top of the page
One Eyed Shark
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Try doing a web search on Carolyn Boroden.
I know she has done a lot of work on fib clusters, but cant comment on the quality of it.
Good Luck
I know she has done a lot of work on fib clusters, but cant comment on the quality of it.
Good Luck
graemenash
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The best thing you can do simply load up some blank charts and draw fib retracements on them and see where these clusters occur.
The best places to draw fib retracements are on entire trends and also on the most recent leg of trends.
Take a look at the example below. The most recent move down in EURJPY began at a fibonacci cluster area containing 23.6% of the entire downtrend from 169.96 to 132.21 and also 38.2% of the most recent leg of the trend, i.e 156.84 down to 132.21. (red and blue respectively)
These indicated that the area highlighted was a good potential resistance area.
Fibonacci extensions are a little harder to master, but generally in any trend you should draw fibs on the counter-trend retracements in order to figure out the extension levels. The best places to draw them are on the first counter-trend retracement in a trend and the most recent, as shown in the second screenshot, which shows the market being resisted in an area containing 200% extension of the first counter-trend retracement, and 123.6% of the most recent (orange and magenta respectively).
On EURJPY, The fib extensions marked out the same area as the fib retracements as holding resistance, i.e between 141 and about 141.60.
2 fib retracements + 2 fib extensions in the same area = 4x fib levels total, which usually = a good trade, and in this case saw EURJPY fall from around 141 down to 126...
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Yes, Carolyn Boroden and Mark Braun seem to be the only 2 legit people working with clusters. Let me known what you come up with. In fact I am reading Carolyns book which you can get cheaply on amazon right now. Im amazed she can put so much info into one book. Now I only hope I can make a living trading it and understanding it correctly.
Marc V
Marc V
