What indicators would you like to setup a trade for?

Candlestick Daily volume index Bar reversal Edit

Trade setup

Position Order Entry Exit Stop Loss Risk Return Expectancy
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

What indicators would you like to backtest?

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%

Company

Indicator

Code Company Date Close Change Indicator Value Signal

Trading Performance

Fibonacci Fans

Score

-0.15

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 10 25.2 0.40% 0.67% 96.6% -5.2% 355.4%
SHORT 11 39.5 0.36% 0.50% 8.2% -9.9% -46.7%

Summary

Technical Analysis

Opthea (OPT.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.


Opthea (ASX:OPT) : The current Fibonacci Fan levels are:
(23.61%) $3.45
: (38.2%) $2.48
: (50%) $2.38
: (61.8%) $2.27

The current support levels are:
(78.6%) $2.13
(100%) $1.95
(138.2%) $1.63
(161.8%) $1.42
(261.8%) $0.57
(423.61%) $-0.8



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: Opthea (OPT.AX)


Stock Exchange: ASX
Company: Opthea
Ticker Codes: | OPT.AX | ASX:OPT |

About Opthea (ASX:OPT):

Opthea Limited develops and commercializes therapies primarily for eye disease in Australia. The company's development activities are based on the intellectual property portfolio covering Vascular Endothelial Growth Factors (VEGF) C and D, and VEGF Receptor-3 for the treatment of diseases associated with blood and lymphatic vessel growth, as well as vascular leakage. Its lead molecule is OPT-302, a soluble form of VEGFR-3, which is in Phase 1/2A clinical trial for the treatment of back of the eye diseases, such as wet age-related macular degeneration that is the cause of blindness in elderly and diabetic populations. The company was formerly known as Circadian Technologies Limited and changed its name to Opthea Limited in December 2015. Opthea Limited is based in South Yarra, Australia.

Top 10:

Fibonacci Fans

Download
Company Close Change(%) Volume Value Signal
EMH European Metals Holdings 0.32 10.3 59,298 -0.16 BEARISH
TRS Reject Shop 4.22 6.8 435,254 -10.59 BEARISH
EVO Evolve Education 0.17 6.5 1,740,571 -0.1 BEARISH
CVW Clearview Wealth 0.5 4.2 83,036 -0.92 BEARISH
RBL Rib Loc 1.05 4 628,044 -0.46 BEARISH
RFG Retail Food 0.11 2.9 6,332,180 -1.84 BEARISH
MYS Mystate 5.31 2.9 82,539 -3.99 BEARISH
FLT Flight Centre 42.2 2.9 444,374 -43.08 BEARISH
LNG Liquefied Natural Gas 0.19 2.7 524,677 -0.46 BEARISH
MTO Moto Goldmines 2.04 2.5 11,855 -2.67 BEARISH