Fibonacci & S/R Levels on W1: High-Confidence Zones for Swing Traders

The Weekly timeframe (W1) offers a macro perspective on market structure, making it ideal for identifying key support/resistance zones and plotting Fibonacci retracement levels. When used properly, these levels become powerful guides for swing traders and can enhance the accuracy of signals in systems like Dashboard EAX.

Why Use Weekly Fibonacci and S/R Levels?

  • Macro Structure: Weekly charts smooth out short-term noise and show major turning points
  • High Impact Zones: S/R from W1 holds stronger than lower timeframe levels
  • Confluence: Combining Fibonacci with S/R increases confidence in trade direction
  • Trend Control: Helps define trend continuation or reversal areas

Weekly Pivot Points: Enhancing Confluence with Fibonacci & S/R

Pivot Points are calculated based on the previous week’s price action and act as predictive support/resistance levels. When used on the Weekly (W1) timeframe, they offer strong areas of potential reversal or breakout, especially when price reacts around:

  • R1, R2, R3: Resistance levels where upward moves may stall
  • S1, S2, S3: Support levels where price might bounce
  • PP (Pivot Point): Central balance level; price often retests or consolidates here

When these pivot levels align with Fibonacci retracement zones or known horizontal S/R zones, they form powerful confluence areas that can guide both trend continuation and reversal trades.

How to Use Pivot Points with Dashboard EAX

  • Confluence Confirmation: Prioritize trades when R1/S1 aligns with 0.618 retracement or historical S/R

Visual Example

Tips for Traders

  • Combine W1 S/R with H4 indicators like Vertex ObOs or MBFX Timing
  • Watch for price action signals (e.g., pin bars, engulfing candles) at W1 levels
  • Use dynamic S/R zones (e.g., previous week's high/low) for breakout trades
  • Set alerts at 0.618 retracements or W1 resistance for confluence trades

Conclusion

Fibonacci and Support/Resistance levels on the Weekly timeframe are essential for identifying high-probability price zones. Whether you're a discretionary trader or using semi-automated tools like Dashboard EAX, these levels help you stay aligned with the market's broader structure and avoid false breakouts or premature entries.

Tags: Fibonacci retracement, Weekly support resistance, W1 trading levels, Forex swing trading, Dashboard EAX zones, confluence trading

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