I've been reading Fibonacci Analysis by Constance Brown and trying out her methods for shorting,
The yellow Lines represent confluence between different FIB Ratios.
The vertical lines represent the highs of the FIBS, all fibs started from the same low on the 17th September.
The confluence (confluence is when multiple fib ratios overlap one another) line at 256.29 Holds true and ETH falls, the boxes are the from the tops of FIBs (vertical lines) to the confluence line, then placed from the confluence line down, the first two have held true, 146.57 isthe next target with a possible bounce around the 172.16 area
The yellow Lines represent confluence between different FIB Ratios.
The vertical lines represent the highs of the FIBS, all fibs started from the same low on the 17th September.
The confluence (confluence is when multiple fib ratios overlap one another) line at 256.29 Holds true and ETH falls, the boxes are the from the tops of FIBs (vertical lines) to the confluence line, then placed from the confluence line down, the first two have held true, 146.57 isthe next target with a possible bounce around the 172.16 area