Paradoxal_Investment

LUNC Example with Magical Fibonacci Numbers

LUNC/BUSD

In my first post here in Publish0x I have talked about using fibonacci numbers on moving averages:

Using Fibonacci Numbers on Moving Average

Today I want to show you brilliant work of this method on Luna Classic.

Let's take a look at below chart (LUNC/BUSD 1H Chart)

LUNC_BUSD1

It's a regular chart with only MA and volume indicators. Only difference is we use fibo numbers for MAs!

Let's take a closer look:

LUNC_BUSD2

As you can see, after a long downtrend it tried to break resistence of MA 233 two times but couldn't achieve (see 1 and 2)

When exceeded and achieved to stay on it it was getting ready for moving upward! (see 3) 

Finally when it crossed MA 377 today , it broke in first attempt and with a strong move it drew a big green candle! (see 4)

Big green candle (and following one) rejected by a strong MA resistence. (see 5)

Guees what? It's our 610 MA!

So that's it folks, you just saw a great example which fibonacci numbers in action!

Thanks for reading and tipping!

Chart images: Binance

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Ali_St
Ali_St

38 years old, economist, trading-addict


Paradoxal_Investment
Paradoxal_Investment

Sharing experience and thoughts on markets and trading after 20 years in traditional stock markets.

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