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Fibonacci Trend-Based Time Lines


Drawing Tools can be applied, moved, and formatted, directly on a chart, providing tremendous flexibility. Many drawing tools allow you to analyze new data on a chart by extending the drawing object to the left or to the right of the chart. You can use them to call attention to any area of a chart you wish.

Description:

An analytic tool for detecting support/resistance levels, breakouts and reversal points.




Usage:

Identifying and tracking support/resistance levels helps in determining whether a market will follow the direction or not. Penetration through a support line or resistance line may indicate a market reversal.