The Fibonacci time goal analysis is an analysis for trend reversals in time. The WINPHI program can draw the time lines from any high or low in the price chart. The goal is to look for time bands, calculated from highs—highs and lows—lows. It is preferable to work with the ratios 0.618, 1.000, and 1.618, but the more advanced Fibonacci trader will learn how to work also with higher ratios.
Click the P1 speed button to mark the Low (or the High). Move the cursor to the Low of choice in the chart and left-click.
Click the P2 speed button to mark the second Low (or the second High). Move the cursor to the second Low of choice in the chart and left-click.
Click the Draw speed button with the right mouse button. Click with the left mouse button on Time Goal Analysis from the list of trading tools. A bullet point will appear next to the word Time Goal Analysis in the menu list.
Click the Draw speed button with the left mouse button again. You will observe on the chart a line that connects the two Lows marked by the P1 and P2 speed buttons. Depending on the Fibonacci ratio selected in the ratio box, you can draw new time lines that are the distance between the two Lows multiplied by the Fibonacci ratio of your choice.
Once you have generated the Fibonacci time goal line with two Lows, you can use the same procedure to generate the Fibonacci time goal lines for the Highs. By doing so, using the correct Fibonacci ratios, you can generate time bands.
Left-click the Clip speed button, and Fibonacci time goal lines are saved on the screen. You can overlay any of the other geometrical Fibonacci trading devices on the screen as well.
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