the hAnDbook oF teChnICAl AnAlysIs10.10 The Fibonacci Trader’s Technical Toolbox
Fibonacci ratio and number counts have been applied in a myriad of ways in the
financial markets. We shall cover some of the more important approaches in this
chapter. Here is a list of some of the more popular Fibonacci applications:■ (^) Fibonacci retracements
■ (^) Fibonacci extensions
■ (^) Fibonacci expansions
■ (^) Fibonacci projections
■ (^) Fibonacci fan lines
■ (^) Fibonacci channels
■ (^) Fibonacci spirals
■ (^) Fibonacci ellipses
■ (^) Fibonacci arcs
■ (^) Fibonacci circles
■ (^) Fibonacci‐based moving averages
■ (^) Fibonacci time ratio projections
■ (^) Fibonacci number counts
■ (^) Fibonacci wave counts
■ (^) Fibonacci time zone projections
From the list above, we have categorized the various applications into their
respective price and time elements. See Figure 10.37.
Fibonacci retracements, extensions, expansions, and projections are static or
horizontal overlay indicators. A horizontal overlay indicator has no time element
associated with it. Conventional support and resistance are also horizontal overlay
Figure 10.37 Fibonacci Tools Categorized According to Price and Time Elements.