Looking for the Symmetry Toool for NT8?
NT8 VersionSymmetry Overview
In this example, if you want to analyze the relationship between the swings indicated by the two blue arrows, you use the Symmetry tool and draw where the red arrow is indicated (from low of the swing to the low of the swing).
When using this tool, you will always draw from a low point to a low point or a high point to a high point. This equates to drawing from point A to point C. At this point, the tool will automatically find point B, then project the range of the AB leg from point C to give you point D.
Here is the result of using the tool in the above example. As you can see, the swing from A to B is equal to the swing from C to D. Symmetry!
Here is another example of Symmetry to the downside. In this example, you draw a line from the high of A to the high of C and the labels and lines are all drawn for you.
Alternative Fibs
As you can see, when the “alt levels” are enabled, additional lines are drawn on the CD leg of the tool. In this example, the market found support on the 0.618 of the range of the AB leg (see blue arrow).
Here is an example of the market going to the 1.618 extension (red arrow). Another way to think of this is 161.8% of the AB leg, projected from point C. As you can see, there was a reaction at the “D” point (100% of AB), as well (blue arrow).
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