Disliked{quote} No clue about Fib theory you should ask somebody else around these thread. There are some good full fib trades here. On the area, yes is last break out point and without surprises from FED (like hinting on a delay in hikes or related) it should provide Resistance intraday / daily and selling pressure on profit taking from 1.11xx leg. A "dovish" FED can open a further retrace up but still the area should provide a good reference in any move up until the M roll. sisseIgnored
Thought you were a fib trader, my mistake. Still, thanks for your reply. Always interesting to read your analyses.