the hAnDbook oF teChnICAl AnAlysIs■ (^) Fibonacci time ratio projections
■ (^) Fibonacci time zone projections
10.22.5 Fibonacci Number Counts
Figure 10.92 shows a simple Fibonacci number count for predicting potential
reversals in price. It may be used on any timeframe. Start the Fibonacci number
count from a significant peak or trough. The count increases as each subsequent
bar or candlestick is formed. Potential reversals are then expected whenever the
count approaches the next Fibonacci number in the sequence. It works best in
Figure 10.91 Rapid Half‐Cycle Ratio Contraction within a Triangle Pattern.
Figure 10.92 Fibonacci Number Counts on the Weekly EURUSD Chart.
Source: MetaTrader 4