We use fibonacci fans in the CIL. Anchak was the first to use them heavily and Columbia has done some fantastic work with them in his charting.
I use them only occasionally myself. They are a fantastic auxiliary tool when used with other TA. But every once and awhile I go back to my fan chart.
I had not looked at this chart for a few weeks, but went back to it when I was working on my currency pair charts. This is very interesting:
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifZRAcoZdCuLKW7zIfzyvR3dMyY4fHexWUvvH1PacM8Q3rXq8Oqx1DNdOJOUUikCI_Tual5mDnzBzC2_LI2xq7TuWlP3TXI-vHwkgYXrEbc45H582jQptK7PfNBGoihPagRZF5dqjh1FKw/s320/ScreenShot061.png)
The rally bounced off of and closed above the 78.6% fan line for the latest Minor A-B fan.
Combine this with my last currency pair post EUR/USD Breakout? showing that the US Dollar might take a small breather and my updated count Teamwork Baby! I think we have a good shot of finally starting Minor C.
Also note my longer term projection on the chart above and how it fits with my longer term projection Dust, Wind... Dude
Yeah I think we will get a rally for the next couple of weeks for a few percent. But I would mainly view it as an opportunity to get into some long term shorts at a better price.
My $0.02
Solaris's Observations - see comments below
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhtHG8LshtYtchDZ9u7cNmNbsGB1mpplld4FW6n0S6qirEgFs5Df0Ww5Ny6xcIn2LOmOZH8xBVKwyABe3ATXLxR1p-n7PvVJ5ds9-W6FRlOzXAbRzbIYiCHyjVlYms-sa6Zr6jLK0kFYM1K/s320/0binve-001-201.png)
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