Fibonacci Channel
A set of parallel lines spaced at Fibonacci ratios, drawn along a trend to suggest support and resistance.
In plain English
A set of parallel lines spaced at Fibonacci ratios, drawn along a trend to suggest support and resistance.
A Fibonacci channel starts with a trend line between two swings, then adds parallel lines at Fibonacci multiples of the channel's width.
It is a sloped version of retracement levels, for trending markets.
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