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Supply & Demand vs Fibonacci
As an OTA student, I'm a believer in supply and demand zones, but rather than abandon stocks making new highs, I've studied Fibonacci extensions and have found TC2000 is great for utilizing both in my trading.
While I'd rather address this on an OTA forum, being that they are dragging their feet with Trader Nation, I'm hoping some fellow students are here and might have observations on when Fibonacci extensions pick-up where supply zones don't exist or are not clear?
As an example, I was looking at XOM. I don't see any fresh supply zone so I drew my Fibs and have the 161.8 at about the $90.60 level. I believe it is currently in an ascending triangle. This stock just caught my eye but it is only presented as an example. My concern is S&D along with Fibonacci extensions.
how do you show on chart supply and demand zones tc2000 ver 17 thanks for your feed back
There is no built in way to plot supply and demand zones in TC2000 and I really can't think of a way to do so using Custom Indicators either.