Fibonacci Fan

Fibonacci Fan
The name Fibonacci Fan derives from fanlike appearance of three different trend lines. These fans are attracted by utilizing the typical bottoms or tops. The three different Fibonacci fanmakes plansfor the future at 38.2, 61.8%. As the regular costs passes the three different fans, we start making predictions regarding the future cost movements depending on whether there tales place a resistance or cost resistanceat the intersection places. If the costs hold at the line of fan, there is a support and if they move with the help of fan line, they start moving quickly. Fibonacci fan is among the four popular studies of Fibonacci, utilized for predicting the support and resistance level in the market. These fans are made by searching the low and high of market. An invisible line moving from the high to the low level is made at the right point, no matter whether it is low or high. Then, three lines are drawn from left point through an invisible line drawn in a vertical style that crosses the line at nearly 38.2%, 61.8% and 50% of entire distance. This fan also predicts a range of market for short time period as costs incline to bindbetween thehighest and the lowest of three different Fibonacci lines.