Trading Tools Cheat Sheet
Fibonacci Levels, Pitchfork, Fibonacci Arcs, Gann Square, Gann Fan, and Elliot Wave are technical analysis tools used in trading to identify potential levels of support and resistance, anticipate future price movements, and make informed investment decisions. These tools are based on mathematical calculations and relationships between price, volume, and time.
They are widely used by traders to gain insights into market trends and make investment decisions based on past market data. However, it's important to note that these tools are not a guarantee of future performance and can produce false signals, so they should be used in conjunction with other forms of analysis and with a solid understanding of market dynamics.
🔹 Fibonacci Levels: A technical analysis tool that uses horizontal lines to indicate areas of potential support or resistance based on the Fibonacci sequence.
🔹 Pitchfork: A technical analysis tool that uses three parallel lines to identify potential levels of support and resistance and to anticipate future price movements.
🔹 Fibonacci Arcs: A technical analysis tool that consists of several curved lines that originate from two extreme points (high and low) and converge at the fibonacci levels.
🔹 Gann Square: A technical analysis tool that uses a grid to identify potential support and resistance levels and to predict future price movements based on the relationship between time and price.
🔹 Gann Fan: A technical analysis tool that uses diagonal lines to identify potential levels of support and resistance and to anticipate future price movements.
🔹 Elliot Wave: A technical analysis tool that tries to identify patterns in financial market data, particularly in stock market prices, which in turn can be used to make investment decisions. It's based on the idea that market prices move in predictable waves.
