Type Value Confluence

resist. 0.40 4

resist. 0.34 2

resist. 0.33 17

resist. 0.31 3

resist. 0.29 4

resist. 0.28 4

resist. 0.24 4 (was support until today)

supp 0.22 12

supp 0.19 26

supp 0.18 16

Confluence occurs when you take fibonacci projections off of multiple trends and get the same number and strengthens when it corresponds with other technical advents such as gaps, swing high/lows, chart indicators crossovers (MACD, RSI, Stochastics, etc.), trading congestion, etc. The more confluence, the more significant the level. I really take notice when I get two or more fib #s (say a 38.2% and 61.8%) to correspond with a gap in the chart or a swing high. Confluence is very powerful as it combines multiple technical analysis techniques to arrive at the same conclusion, and should be relied on accordingly IMHO

(written by others)