Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Trading Performance

Fibonacci Fans

Score

-0.8

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 15 20.8 0.47% 0.78% 3.4% -3.2% -5.0%
SHORT 16 27.4 0.25% 0.31% 4.3% -3.4% -26.4%

Summary

Technical Analysis

Alumina (AWC.AX)


Indicator:

FIBONACCI FANS


Signal Strength: MEDIUM
Recommendation:

Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading position.


Alumina (ASX:AWC) : The current Fibonacci Fan levels are:
(23.61%) $5.81
: (38.2%) $5.41
: (50%) $5.39
: (61.8%) $5.34

The current support levels are:
(78.6%) $5.29
(100%) $5.22
(138.2%) $5.08
(161.8%) $5.01
(261.8%) $4.66
(423.61%) $4.11



Fibonacci Fan lines are trend lines based on Fibonacci retracement points. Rising fan lines extend up from a trough and pass through retracement based on the advance (trough to peak). These fan lines can then be used to estimate support levels or potential reversal zones. Falling fan lines extend down from a peak and pass through retracements based on the decline (peak to trough). These fan lines can then be used to estimate resistance levels or potential reversal zones. This article will explain the Fibonacci ratios and provide examples using Fibonacci Fans to project support and resistance.

Calculation: Fibonacci Fans:
1) Uptrend Fan line 1: Drawn from extreme low through 23.6% retracement level on “invisible” vertical line;
a) Fan line 2: Drawn from extreme low through 38.2% retracement level on “invisible” vertical line;
b) Fan line 3: Drawn from extreme low through 50% retracement level on “invisible” vertical line Fan line;
c) Drawn from extreme low through 61.8% retracement level on “invisible” line;
2)Downtrend Fan line 1: Drawn from extreme high through 23.6% retracement level on “invisible” vertical line;
a) Fan line 2: Drawn from extreme high through 38.2% retracement level on “invisible” vertical line;
b) Fan line 3: Drawn from extreme high through 50% low retracement level on “invisible” vertical line;
c) Fan line 4: Drawn from extreme high through 61.8% retracement level on “invisible” vertical line;


PROFILE: Alumina (AWC.AX)


Stock Exchange: ASX
Company: Alumina
Ticker Codes: | AWC.AX | ASX:AWC |

About Alumina (ASX:AWC):

Alumina Limited, through its 40% interest in Alcoa World Alumina and Chemicals, engages in bauxite mining, alumina refining, and aluminum smelting businesses. The company has a network of bauxite mines and alumina refineries in Australia, the United States, Guinea, Brazil, and Spain, as well as an interest in a smelter in Victoria Australia; and a bauxite mine and alumina refinery in Saudi Arabia. It also provides shipping services through owned and chartered vessels that transport dry and liquid bulk cargoes, including bauxite, alumina, caustic soda, fuel oil, petroleum, coke, and limestone. The company was formerly known as WMC Limited and changed its name to Alumina Limited in December 2002 as part of the demerger of the WMC Group. Alumina Limited was founded in 1970 and is headquartered in Southbank, Australia.

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