I guess will retest last month low but not sure will happen on 1 day, lets wait for the USD news
But I see price will going too
But I see price will going too
3
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Disliked{quote} you are plotting your fibs upside down - it is the 76.4% not 23.6% (same thing I know re 100-76.4% -vs- 100-23.6%) but it is the 76.4% ie plotting a move up from the lo-hi of the upmove, not hi-lo of the move. And vice-versa.Ignored
DislikedLet me check my crystal balls......{image} Nope....nothing yet. Better wait for the price to dictate the move.Ignored
DislikedLet me check my crystal balls......{image} Nope....nothing yet. Better wait for the price to dictate the move.Ignored
Disliked{quote} Hello [username=Headland] , sorry for replying so late to your post. I am drawing Fibonacci retracements. It means that levels shown are the amount of price going back from the main move range. EG: If there is an upwards move (like yesterday after the BoE news) Fibonacci retracement needs to be plotted from the bottom to the top. Drawn levels say: 23.6 = the price has returned by 23.6% from the maximum move upwards, 38.2 = the price has returned by 38.2% from the maximum move upwards and so on. If the main move is south, I do the opposite....Ignored
DislikedHi, I tried to explain the same thing as Headland that your Fibs are upside down. Only reason to plot retracement Fibo from yesterdays spike bottom to today top is if you believe that this is the new impulse wave initiating a new uptrend. Which I do not believe. But if I plot retracement from last high to yesterdays bottom and I have overall bearish bias, it tells me that price has retraced to almost 78.6%, suggesting a good chance to enter a short. {image} And then it boils down to what levels to pick as tops-bottoms.... {quote}Ignored