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- Trading Guru
Trade active
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Very interesting behaviour so far! Let's first look at what has happened so far:
Indeed, the resistance has been broken. But it is also nice to see that the large volatility happened exactly as predicted. These levels are important, for several reasons, but admittedly self-fulfilling prophecies included. Many people are watching these levels, since the price broke through many people got drawn to the charts again and volatility & volume increased.
I am happy to see that the prediction of volatility became true, but the more important question is whether we will get a fake-out or if also the trend prediction becomes true as well! Let's keep watching this one together. Let me know in the comments below if you have any TA available on what's about to happen next!
@TradingView, 😍 There's something magical about getting a comment from TradingView. Thanks! I really appreciate this :)
jpreal1
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The .618 Fib Resistance is @ 2935. It has not yet broken it, but was fiercely rejected about 20pts below. This is major resistance and if the market somehow manages to break it, it must confirm it before another uptrend can be justified. Good Luck.
Trading-Guru
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@jpreal1, For a fib level, don't you feel it needs to be drawn from low to high? I have never seen a fib drawn from the top first, is this something common?
jpreal1
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@Trading-Guru, Yes very common. Depending on which direction you're going, the FIB can invert. Retracement can happen both directions.
tuongvy0501
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When the market is down but all airlines and cruise stock is up i know I should go long or short.
Trading-Guru
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@tuongvy0501, so which one is it ;)? Long or short :D! Curious to know
Buen0Time5
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Curious to see Gann Fans + Fibs.
653caf3f016c4398b0d341060709c1
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Many are saying 61.8% fib line, but the market seems very strong to break that level I guess
Trading-Guru
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@653caf3f016c4398b0d341060709c1, Do you have an image of the .618 fib line? I can draw one reversed with the bottom of the drop being the start and the top right before being the top, but that's not how you usually draw a fib line