Quick update to map upcoming resistances. Bounce thus far looks reasonably strong. What happens at the resistances above is key.
$ 6359-6418 is immediate resistance, possible end of small order wave. $ 6839-6969 will be pretty strong resistance, likely end of this leg. $ 7198-7278 is maximum expected, assume we get past 7k round.
Of course, I have had total FAILS on some ideas too, not going to pretend. But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets. Precision is the way of the Fib. Almost every turn happens at a Fib Line.
.
Note
Playing out Perfectly.
Price action exactly as expected thus far Now at that 2nd resistance just hosrt of 7k. That is a double fib, which make for strong and precise boundaries. ==============================================================================================
.
Note
Yup, that Double Fib mentioned above was strong as expected Pulled back hard, and now might be in an ABC wave down, with further downside.
Measuring the pullback now for any clues on outlook. =============================================================================================
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.