Trading indicator
Fibonacci FansBacktest 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% |
Trading Performance
Fibonacci Fans
Score
0.0
| Position | Trades | Duration | Win Rate | Win/Loss | Avg Win | Avg Loss | Return |
|---|---|---|---|---|---|---|---|
| LONG | 11 | 29.8 | 0.36% | 0.57% | 13.5% | -4.1% | 25.1% |
| SHORT | 12 | 32.5 | 0.33% | 0.50% | 5.5% | -5.4% | -21.7% |
Summary
Technical Analysis
Whitehaven Coal (WHC.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.
Whitehaven Coal (ASX:WHC) : The current Fibonacci Fan levels are:
(23.61%) $16.59
: (38.2%) $15.19
: (50%) $15.04
: (61.8%) $14.92
The current support levels are:
(78.6%) $14.69
(100%) $14.45
(138.2%) $13.95
(161.8%) $13.68
(261.8%) $12.48
(423.61%) $10.5
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: Whitehaven Coal (WHC.AX)
Stock Exchange: ASX
Company: Whitehaven Coal
Ticker Codes: | WHC.AX | ASX:WHC |
Whitehaven Coal Limited develops and operates coal mines in New South Wales. The company operates through Open Cut Operations and Underground Operations segments. It operates five mines in North West New South Wales; four open cut mines at Maules Creek, Werris Creek, Tarrawonga, and Rocglen; and one underground mine at Narrabri. The company offers thermal coal and metallurgical coal used in the production of steel. As of August 17, 2017, it had approximately 974 million tons of recoverable coal reserves; and 862 million tons of marketable coal reserves. The company sells its coal primarily in Japan, Taiwan, India, Korea, China, Chile, Malaysia, Vietnam, Noumea, Indonesia, Australia, and Mexico. Whitehaven Coal Limited was founded in 1999 and is headquartered in Sydney, Australia.
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