tgts on chart
Kommentar:
Just so you know, I am looking at ab = cd move here. We saw a 50% retrace/pullback of the move downwards. The tape has started moving down again and though a bounce at "double bottom" is expected, if it breaks through the support and continues downwards, the first target would be 0.786 fib at 123. Algos can also see such rudimentary pattern and front run the bounce. Keep a tight SL if you want to ride the price to 1.0 Fib area.
Kommentar:
Are you ready to RUMBLE?!
A 10% Correction from ATH of 140 lands us at 0.618 fib at 125. <= big chance as 0.618 fib is by far the most popular, especially for pullbacks like this.
A 15% correction from ATH of 140 lands us at 1.0 fib or 120. <= My money on this as AB = CD also computes here.
A 10% Correction from ATH of 140 lands us at 0.618 fib at 125. <= big chance as 0.618 fib is by far the most popular, especially for pullbacks like this.
A 15% correction from ATH of 140 lands us at 1.0 fib or 120. <= My money on this as AB = CD also computes here.