Tirone Lines

Charts Drawings: technical analysis of Tirone Lines

  

Technical Analysis, Charts Drawings:

Tirone Lines


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Description: technical analysis, Tirone lines, levels, Fibonacci levels, numbers, series of lines, analytical charts drawing, charts, chart analysis, NASDAQ 100 chart.

Tirone lines (also known as Tirone Levels) were developed by John Tirone and are drawn on the chart as a series of three horizontal lines where the center line is drawn as a middle line between the highest high and the lowest low in the period selected and the bottom and top lines are drawn at 1/2 and 2/3 of the distance between the same highest high and lowest low.

In technical analysis, Tirone lines are use to identify possible support and resistance and their analysis can be compared to the analysis of the Fibonacci lines (levels). As with Fibonacci Lines, Tirone Lines use 50% for the center line and possible support and resistance levels.

Chart 1: NASDAQ 100 chart with Tirone Lines

Nasdaq 100 Chart - Tirone Lines

V. K.

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5/21/2012 - SV2